Chapman Tripp Australia has an Insolvency Law Reform Bill in Parliament and plans for more change further down the track in the form of recommendations from the Australian Productivity Commission, which the Australian Government has signalled it will adopt.
These developments will be of interest to New Zealand insolvency practitioners, company directors and creditors. We summarise the proposed changes and comment briefly on the possibility of similar reform in New Zealand.
Insolvency Law Reform Bill
The Bill, introduced to the House on 3 December 2015, provides for procedural reforms to align the regulation, registration and remuneration of insolvency practitioners in both corporate and personal insolvencies. They include:
- chang…
Read the full article at: http://www.lawfuel.com/newzealand/australias-rewrite-insolvency-laws/