In August we reported on the Court of Appeal decision of Farrell v Fences & Kerbs Limited [2012] NZCA 91 which saw the limiting of the defence under the Companies Act 1993 (“the Act”) which relates to voidable transactions when a company becomes insolvent. In the Farrell case the Court […] Read More›
Insolvency
The New Zealand Court of Appeal has recently issued a decision confirming that where creditors are related to the party in liquidation their ability to influence decisions at meetings of creditors is severely limited. Under Section 245A of the Companies Act the Court has the ability to set aside resolutions […] Read More›
A Court of Appeal decision is bound to have a big impact on future commercial dealings and relationships with creditors, so you need to be aware of the change in judicial thinking. The recent decision of Farrell v Fences & Kerbs Limited [2013] NZCA 91, has seen the Court of […] Read More›
Essentially liquidation is the last stage of a company’s life as it involves the realisation and distribution of a company’s assets and therefore companies want to avoid being forced into liquidation unless there really is no other option. If your company faces the possibility of liquidation it is important to […] Read More›