In 2016 a number of high-profile businesses have hit troubled waters. Stories of company failures, liquidations, insolvencies and receiverships have dominated the business media, and many hundreds if not thousands of New Zealanders have been affected.
As most NBR readers will know, insolvency practitioners are appointed to take control of a company when it does not have enough money to stay in business. The appointed insolvency practitioner will get paid first out of whatever money the company has left. The decisions he or she makes will significantly affect outcomes for creditors, employees and shareholders. In light of all that, it is surprising that insolvency practitioners have been unregulated for so long.
The Restructuring, I…
Read the full article at: https://www.nbr.co.nz/article/insolvency-industry-self-regulates-build-public-confidence-196912