We accept all varieties of insolvency appointments, including Court appointed Liquidations, Voluntary Shareholder appointed Liquidations, Receiverships and Voluntary Administrations. Our team offer an efficient and personalised service aimed at maximising the return for creditors.
Court appointed liquidations
We have been appointed as Liquidators for a range of companies across many industries, ensuring we have the skills and knowledge to assist in even the most complex situations.
We provide consent documents to creditors who are in the process of applying for their debtors to be placed into Liquidation by the High Court. We will work in with your solicitor to provide the documentation they require for your application to succeed. Due to our extensive resources in our wider Nexia New Zealand team, we can act at short notice.
Voluntary shareholder appointed liquidations
We understand that seeing your business struggle can be painful and we recognise that decision making when times are tough can be difficult. That’s where we can help.
If your company becomes insolvent or is struggling to meet day to day costs, we will talk with you about the possible causes and identify the crux of the issue.
After reviewing your current financial situation, we will discuss your options with you, and work with you to establish the best way forward. If the best way to minimise your risk is to wind up the business, we can do everything from preparing resolutions and organising the signing of documents, right through to having the company removed from the Register.
If a turnaround is still possible,
Receiverships have a history of producing positive results. We have extensive experience in operating many businesses and expert knowledge across a variety of industries. Receivers are empowered to carry on business and will often achieve a better price by selling the assets as a going concern, whilst saving jobs. We will always take a commercial approach to maximising the return to the secured creditor.
We accept appointments as Receivers and Managers on behalf of General and Specific Securities Holders whose debtors are in default. We place considerable importance on understanding and pursuing the objectives. We will keep you involved as much as possible, or as little as required, throughout the Receivership process depending on your requirements.
The Voluntary Administration process has been available in New Zealand since 2007, but it is not as common as liquidation or receivership. It is a procedure for companies who have the potential for rehabilitation, usually with the intention to continue trading. The period of Administration is intended to be short.
As Administrators or Deed Administrators, we will work with your company to maximise the opportunity for you and your creditors to move forward. The experience of our specialised team allows us to suggest and work through the best outcome for all concerned, whether that is through a Deed of Company Arrangement, or the eventual Liquidation of the company.
A solvent liquidation is the formal process of ceasing a company voluntarily and having it removed from the Register of Companies. We can assist you through the formal solvent Liquidation process, right from considering whether solvent Liquidation is the best approach, to drafting appropriate documentation and managing the distribution of assets and funds to the shareholders. We can also manage the short form removal process if a formal solvent Liquidation is not the best option. We will assist you to make the decision on the best process to use in your own situation, weighing up the specifics of your business and considering the most cost-effective way to complete the removal.
We have the knowledge and skills to advise you on the most appropriate way to restructure your business for your current situation. That could range from changing the way you operate (e.g. from sole trader to incorporating a company), supporting growth or following the acquisition or disposal of business assets.
After carrying out a review of your business and the way you currently operate, we can assist you in choosing the most appropriate way to restructure. Our team can also help by preparing and filing the required documents, whether it be to incorporate a new company, or by preparing you for an amalgamation, merger or business acquisition.