New Zealand

Results for New Zealand

Creditors Vote To Put Woosh Wireless Into Liquidation

Woosh Wireless' creditors, thought to be owed almost $13 million, have voted to put the troubled internet provider into liquidation, The New Zealand Herald reported. The business was founded in 1999 and has burned through more than $100 million ...

Daily Headline - global.abi.org - 07/05/2016 - 23:04 - 0 comments

Dick Smith Goes Into Receivership

Electronics retailer Dick Smith has been put into receivership after its banks refused to keep propping it up following poor sales. The company, which has nearly 400 stores in Australia and New Zealand, said in August it was carrying too much of the wron ...

Daily Headline - global.abi.org - 01/04/2016 - 23:00 - 0 comments

Solid Energy Creditors Agreement Challenged By Cargill International

State owned miner Solid Energy faces a court action to cancel its scheme to repay creditors, Stuff.co.nz reported. Cargill International has filed in the High Court for termination of Solid's Energy's scheme to pay back trading creditors, banks ...

Daily Headline - global.abi.org - 10/14/2015 - 22:55 - 0 comments

Landcorp Result 'Disappointing', But It's No Solid Energy

State owned enterprise minister Todd McClay says Landcorp won't turn a profit for "the next few years" and is again foreshadowing land sales, Stuff.co.nz reported. Record low dairy prices saw profits plunge by $25m, Landcorp said Thursday. ...

Daily Headline - global.abi.org - 08/27/2015 - 21:40 - 0 comments

Genesis Energy Uses Solid Energy Administration To Cancel Major Contract

Genesis Energy will cancel its coal supply agreement with Solid Energy from October using a clause triggered by the coal mining company's voluntary administration, Stuff.co.nz reported. The move is a blow for the country's largest coal miner, S ...

Daily Headline - global.abi.org - 08/19/2015 - 22:34 - 0 comments

NZ State-Owned Coal Miner Put Into Administration

New Zealand's debt-laden state-owned coal mining company Solid Energy Ltd was put into administration on Thursday to ward off its creditors as it looks to organise a sale of assets. The government refused to pump in any more money to support the com ...

Daily Headline - global.abi.org - 08/17/2015 - 17:43 - 0 comments

NZ State-Owned Coal Miner Put Into Administration

New Zealand's debt-laden state-owned coal mining company Solid Energy Ltd was put into administration on Thursday to ward off its creditors as it looks to organise a sale of assets. The government refused to pump in any more money to support the com ...

Daily Headline - global.abi.org - 08/13/2015 - 22:06 - 0 comments

Solid Energy Announces Voluntary Administration

Solid Energy has confirmed it is going into voluntary administration, Stuff.co.nz reported. The state-owned coal company met staff at various sites including the West Coast, Southland and Waikato on Thursday morning, before confirming the news to media i ...

Daily Headline - global.abi.org - 08/12/2015 - 20:44 - 0 comments

First Rise In Bankruptcies Since 2009

The number of people going bankrupt has ticked up for the first time since 2009 when fallout from the global financial crisis reached its peak, The New Zealand Herald reported. Figures from the Insolvency and Trustee Services show 1979 people went ba ...

Daily Headline - global.abi.org - 07/26/2015 - 21:23 - 0 comments

Cross-Border: Can a Bankrupt's Pension be used to Pay Creditors? The Search for Clarity in New Zealand and the UK

How does the objective of achieving payment for creditors in insolvency interact with the objectives of pension legislation, which seeks to ensure that individuals are adequately provided for in retirement? The courts in New Zealand and in the UK have ea ...

Resource Article - abi_admin - 07/03/2015 - 09:32 - 0 comments - 0 attachments

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