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 each recently grappled with this issue. In both of the recent cases considered in this article the pensions objectives won out and the specific pension funds in question were not made available for the bankrupt individual's creditors.

Releasing an antecedent debt or forbearing to sue does not constitute real or substantial value.

Appointment Generally an IP is appointed to the majority of insolvency appointments. However, sometimes a non-IP who may be an industry specialist may be appointed. The type of IP appointed will vary according to the insolvency proceedings. If it is a large and/or complex case the IP appointed is typically either from one of the larger accounting firms or one of the specialist insolvency firms. Qualifications In New Zealand an IP does not need to have minimum qualifications to undertake any form of insolvency appointments.