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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

KordaMentha Concludes Receivership Of Somers-Edgar's Orange

The receivers for Doug Somers-Edgar's Orange Finance have concluded their work with a shortfall of about $10 million in principal and interest owed to debenture holders of the failed company, Scoop.co.nz reported. Orange froze repayments to some 2,5 ...

Daily Headline - global.abi.org - 06/29/2015 - 22:01 - 0 comments

Company Under SFO Probe Goes Into Receivership

A Christchurch-based investment company at the centre of a Serious Fraud Office and Financial Markets Authority probe has been placed in receivership, Stuff.co.nz reported. The development will be bad news for hundreds of nervous investors in the company ...

Daily Headline - global.abi.org - 05/27/2015 - 22:58 - 0 comments

NZF Enters Voluntary Administration As Reverse Listings Fail

NZF Group, the former financial services company, has entered voluntary administration after its second reverse listing proposal fell through, Scoop.co.nz reported. Last month the Auckland-based finance company said it would look to find a way to return ...

Daily Headline - global.abi.org - 05/07/2015 - 22:43 - 0 comments

Court Decision On Insolvency Victory For The Little Guy

Small business owners, particularly in the construction industry, should be breathing a sigh of relief this week. The Supreme Court has delivered a decision which upholds their rights to keep payments made by companies which subsequently go into liquidat ...

Daily Headline - global.abi.org - 02/19/2015 - 22:41 - 0 comments

Vincent Aviation Enters Receivership

Wellington-based aviation company Vincent Aviation, which has about 30 workers, has gone into receivership, Stuff.co.nz reported. In a public notice released today, Stephen Tubbs from BDO was appointed receiver of the company, which was established in 19 ...

Daily Headline - global.abi.org - 10/23/2014 - 21:22 - 0 comments

Helipro Put Into Receivership

Well-known helicopter company Helipro has put itself into receivership, Stuff.co.nz reported. Helipro employs about 70 staff, with eight bases throughout New Zealand and operations in Fiji and Australia. As well as commercial and tourism helicopter fligh ...

Daily Headline - global.abi.org - 10/07/2014 - 19:58 - 0 comments

VnC Cocktails, Makers Of Disick Drink, In Final Death Throes

New Zealand shake and pour cocktails company VnC Cocktails has gone into liquidation after failed attempts to sell it, Sharechat.co.nz reported. The company went into voluntary administration on June 30, was then tipped into receivership a few days later ...

Daily Headline - global.abi.org - 09/10/2014 - 21:46 - 0 comments

Zip For Unsecured Postie Plus Creditors

There's no money in the pot for unsecured creditors of Postie Plus, its administrator says, NZCity reported. The nationwide clothing retailer had 650 employees and 81 stores when it it went into voluntary administration in June, and 580 kept their j ...

Daily Headline - global.abi.org - 09/07/2014 - 21:38 - 0 comments

Buyer Found For Troubled NZ Retailer Postie Plus

The administrators of troubled New Zealand clothing retailer Postie Plus Group Ltd said on Wednesday they have found a likely buyer for the company. The struggling company called in administrators from PricewaterhouseCoopers on Tuesday after its bank ref ...

Daily Headline - global.abi.org - 06/05/2014 - 00:08 - 0 comments

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