Online CPD Module l Booklet l PowerPoint Presentation
Package Fee (incl GST)
- $205 - NZLS members and Associate members
- $255 - Non-members
Note: Access to the online files is via your "My CPD" page. If you would like to purchase multiple packages, please contact us here.
Online CPD Module
Presentation time: 120 minutes
While some six years have passed since the on-set of the Global Financial Crisis, the rate of commercial failures in New Zealand remains high. Questions surrounding business insolvency present frequent challenges to practitioners across a wide range of commercial practice.
In addition, a sound understanding of insolvency and securities law is fundamental to structuring and achieving successful commercial transactions. Providing effective advice to your clients requires a real understanding of the key issues that frequently arise on business insolvencies.
This seminar will focus on insolvency from a commercial and business perspective. It will include consideration of the key developments in receivership and liquidation case law over the past few years, particularly those following the 2007 amendments to insolvency provisions in the Companies Act 1993.
Topics covered will include:
- Compromises with creditors and schemes of arrangement.
- Liquidators and receivers powers to obtain documents and other information.
- Actions by liquidators for breach of directors duties (including as against shadow directors).
- Voidable transactions.
- Preferential creditors in receiverships and liquidations.
- PPSA – common disputed issues concerning priority and enforcement.
- Be informed and up-to-date on the key contemporary issues on business insolvencies.
- Better understand what advice needs to be provided to your clients, and steps that can be taken to best protect or advance their position should an insolvency situation arise.
Please contact us if you use a dial up internet connection.
Authors: Sean Gollin, Richard Gordon
Published: 25 March 2015
The last eight years have seen a robust testing of New Zealand’s corporate insolvency regime. The changes to the insolvency provisions in the Companies Act 1993 (the Act) in 2007, together with the large upsurge in business failures following the Global Financial Crisis, has meant that a significant body of case law has more recently developed. These key developments provide useful guidance for both insolvency practitioners and business people, when an insolvency situation arises.
The law has long recognised that insolvency law requires relevant principles to be applied in a pragmatic way. This principle is captured in the purpose of the Act to provide straightforward and fair procedures for realising and distributing the assets of insolvent companies. Where ambiguity has arisen, the development of recent case law is a welcome addition from a business certainty perspective.
Insolvency law naturally interferes with the ordinary running of businesses, with companies put into liquidation and affected creditor companies/individuals. The courts have increasingly recognised the importance of ensuring that clear and enforceable rules are developed, but which do not act as an unnecessary restraint on business. Liquidators also need certainty to ensure that assets are able to be realised and distributed in a cost-efficient manner for the benefit of all unpaid creditors.
This seminar focuses on insolvency from a commercial and business perspective, including consideration of the key developments in receivership and liquidation case law over the past few years. In particular, the following topics will be discussed:
(a) Compromises with creditors and schemes of arrangement
(b) Liquidators and receivers’ power to obtain documents and other information;
(c) Actions by liquidators for breach of directors’ duties;
(d) Voidable transactions;
(e) Preferential creditors in receiverships and liquidations; and
(f) PPSA – common disputed issues concerning priority and enforcement.
These are the slides included in the presentation.
Number of Slides: 67