New Zealand

Results for New Zealand

Plan To Regulate Insolvency Sector Welcomed

A plan to regulate the insolvency sector and shut down unscrupulous operators is being welcomed by an industry body, Radio New Zealand reported. The government has released the first part of a review into insolvency laws, which recommends licensing for p ...

Daily Headline - global.abi.org - 09/01/2016 - 23:53 - 0 comments

Insolvency Practitioners Face New Licensing Regime

New Zealand's insolvency practitioners look likely to face a new licensing regime after a report to Commerce Minister Paul Goldsmith found that gaps in existing rules enable dishonesty and incompetence, The New Zealand Herald reported. The publi ...

Daily Headline - global.abi.org - 08/25/2016 - 23:57 - 0 comments

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

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