Most professionals in the insolvency world would agree that the effects of Covid have been slow to make an impact in our area.
Indeed, during the "Covid years" of mid-2020 to -late 2022, New Zealand experienced very low insolvency numbers.…
https://anthonyharper.co.nz/wp-content/uploads/2024/02/anthony-harper-is-2024-the-insolvency-year-1030x579-1.jpg5791030Adeline OConnorhttps://anthonyharper.co.nz/wp-content/uploads/2021/08/ahlogo_temp.pngAdeline OConnor2024-02-15 11:06:592024-02-15 11:07:28Is 2024 going to be “the insolvency year”?
Anthony Harper was named winner of Insolvency and Restructuring Deal of the Year at the 2023 NZ Law Awards, for the liquidation of CBL Insurance Limited.
The firm acted for liquidators, McGrathNicol, in a claim against the directors and advisors…
https://anthonyharper.co.nz/wp-content/uploads/2023/12/anthony-harper-winner-insolvency-deal-of-the-year-nz-law-awards-2023-1030x579-1.jpg5791030Adeline OConnorhttps://anthonyharper.co.nz/wp-content/uploads/2021/08/ahlogo_temp.pngAdeline OConnor2023-12-11 21:32:252023-12-12 09:49:46Anthony Harper wins Insolvency and Restructuring Deal of the Year
A warning for companies entering solvent liquidation: you may not have a right to set-off unliquidated claims against debts you owe to creditors.
That was the finding in a recent High Court decision where the liquidators of HY Tourism Ltd…
https://anthonyharper.co.nz/wp-content/uploads/2023/11/warning-for-companies-entering-solvent-liquidation-anthony-harper-1030x579-1.jpg5791030Adeline OConnorhttps://anthonyharper.co.nz/wp-content/uploads/2021/08/ahlogo_temp.pngAdeline OConnor2023-11-14 12:41:262023-11-14 12:41:26No ability to set off claims in solvent liquidations
The Supreme Court recently released its decision in relation to the long-running directors' duty case, Yan v Mainzeal Property and Construction Limited (in liquidation)  NZSC 113 (Mainzeal).
In the wake of the release, there have been…
https://anthonyharper.co.nz/wp-content/uploads/2023/09/Mainzeal-new-causes-of-action-for-creditors-anthony-harper-1030x579-1.jpg5791030Adeline OConnorhttps://anthonyharper.co.nz/wp-content/uploads/2021/08/ahlogo_temp.pngAdeline OConnor2023-09-13 14:46:512023-09-14 10:38:26Mainzeal – Supreme Court recognises two “new” causes of action for creditors
On 15 April, the Government announced further temporary changes to legislation giving some relief to commercial tenants and mortgagors.
Particularly, changes to current legislation were introduced extending the timeframes that tenants and…
https://anthonyharper.co.nz/wp-content/uploads/2020/09/articles_0002_lease-and-mortage-defaults.jpg10801920Natalie Mcmullenhttps://anthonyharper.co.nz/wp-content/uploads/2021/08/ahlogo_temp.pngNatalie Mcmullen2020-09-08 14:12:172022-03-16 15:14:58The ability to enforce following lease and mortgage defaults
As part of the changes to assist businesses ride out the COVID-19 storm, parliament has proposed a business debt hibernation scheme to supplement the existing insolvency mechanisms under the Companies Act 1993.
Business Debt Hibernation
Parliament is introducing legislation to amend the Companies Act to assist companies facing solvency issues as a result of COVID-19.
The hope is that this will assist companies to trade through and keep employees on board during this time…
https://anthonyharper.co.nz/wp-content/uploads/2020/04/covid_0000_meeting-2548826.jpg10801920Natalie Mcmullenhttps://anthonyharper.co.nz/wp-content/uploads/2021/08/ahlogo_temp.pngNatalie Mcmullen2020-04-03 17:51:532022-03-16 15:15:02Safe harbour for directors – Relief for businesses or storm brewing?
The COVID-19 pandemic will have a significant financial impact on all businesses across New Zealand, particularly as a result of the Government-directed lockdown. The nationwide financial impact may give rise to insolvency risks for some businesses.
https://anthonyharper.co.nz/wp-content/uploads/2020/04/articles_0019_lockdown.jpg10801920Natalie Mcmullenhttps://anthonyharper.co.nz/wp-content/uploads/2021/08/ahlogo_temp.pngNatalie Mcmullen2020-04-03 13:18:182023-11-13 08:30:03Mitigating insolvency risks during COVID-19 lockdown
The Supreme Court has now issued a judgment in Robt. Jones Holdings Limited v McCullagh and Lawrence in  NZSC 86.
The decision clarifies the test under section 292, giving liquidators and advisors certainty around what must be proven…
https://anthonyharper.co.nz/wp-content/uploads/2022/03/AH-podcast-linkedin.jpg9001600Natalie Mcmullenhttps://anthonyharper.co.nz/wp-content/uploads/2021/08/ahlogo_temp.pngNatalie Mcmullen2019-08-21 10:15:022022-07-25 08:51:21Supreme Court clarifies the law under s292 of the Companies Act
With the new Construction Contracts Act retentions regime in place, and rising construction costs, more and more businesses in the construction industry are facing solvency issues. Contractors are finding their cashflow is tightening and margins…
https://anthonyharper.co.nz/wp-content/uploads/2018/11/Untitled-design.png5791030Happy Monday Supporthttps://anthonyharper.co.nz/wp-content/uploads/2021/08/ahlogo_temp.pngHappy Monday Support2018-11-11 10:41:452023-11-13 08:31:42Managing the risk of insolvency on a construction project
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