Insolvency Measures In New Zealand: A Temporary 79 DIP Model

Akshaya Kamalnath; Pulkit Deora

Insolvency Measures In New Zealand: A Temporary 79 DIP Model

Research output: Chapter in Book/Report/Conference proceeding › Chapter

Abstract

The Companies Act 1993 governs corporate restructuring and insolvency of New Zealand corporations, including distributions of a company's assets to creditors. New Zealand's main corporate restructuring processes are creditor compromises, schemes of arrangement, receivership, voluntary administration and liquidation. There are no circumstances under which a company or its directors are obliged to commence formal insolvency proceedings. However, directors may initiate formal insolvency proceedings to minimize the risk of personal liability for reckless trading

Original language	English
Title of host publication	COVID-19 Exploring the New Normal in Insolvency
Editors	Dr. Sameer Sharma, Dr. Neeti Shikha
Place of Publication	New Delhi
Publisher	Bloomsbury Publishing
Pages	79-88
Volume	1
ISBN (Print)	9789354354892
Publication status	Published - 2021

Cite this

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abstract = "The Companies Act 1993 governs corporate restructuring and insolvency of New Zealand corporations, including distributions of a company's assets to creditors. New Zealand's main corporate restructuring processes are creditor compromises, schemes of arrangement, receivership, voluntary administration and liquidation. There are no circumstances under which a company or its directors are obliged to commence formal insolvency proceedings. However, directors may initiate formal insolvency proceedings to minimize the risk of personal liability for reckless trading",

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AB - The Companies Act 1993 governs corporate restructuring and insolvency of New Zealand corporations, including distributions of a company's assets to creditors. New Zealand's main corporate restructuring processes are creditor compromises, schemes of arrangement, receivership, voluntary administration and liquidation. There are no circumstances under which a company or its directors are obliged to commence formal insolvency proceedings. However, directors may initiate formal insolvency proceedings to minimize the risk of personal liability for reckless trading

M3 - Chapter

SN - 9789354354892

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BT - COVID-19 Exploring the New Normal in Insolvency

A2 - null, Dr. Sameer Sharma, Dr. Neeti Shikha

PB - Bloomsbury Publishing

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ER -

Insolvency Measures In New Zealand: A Temporary 79 DIP Model

Abstract

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