The Supreme Court's recent decision in Yan v Mainzeal Property and Construction Limited[1] is, as the Court describes, of fundamental importance to the business community, as it sets the bar for director liability. The guidance offered by the Supreme Court is, however, unlikely to provide ...

[2023] NZHC 260 [23 February 2023] Following the Supreme Court's decision in Ellis[1] questions have been raised regarding the extent to which tikanga should be applied by the Courts. Recently the High Court considered this issue in an insolvency context. Bamber v the Offical Assignee ...

The 'Business Debt Hibernation' process is one of a number of new initiatives introduced to mitigate the business impact of COVID-19.   What is the purpose of BDH? The Business Debt Hibernation or BDH process provides an opportunity for businesses facing significant cash-flow problems due ...

Given the challenging business conditions as a result of the Covid-19 pandemic, an unfortunate consequence may be that we see a number of businesses fail. In light of this we set out below an overview of the various corporate insolvency regimes. In addition, we also ...

With the current COVID-19 lockdown and likely recession to follow, many companies' businesses will come under significant financial stress, with cash flow and the ability to pay creditors severely impacted. The Companies Act 1993 (Act) imposes certain duties on directors to protect creditors and it ...

The Government has announced that it will be introducing legislation to make changes to the Companies Act to help businesses facing insolvency due to COVID-19 to remain viable. We are broadly supportive of these changes which are a pragmatic response to the crisis and follow ...