Insolvency & Recovery

Our team has a wide range of specialist skills and experience across a variety of industries. We have a detailed understanding of how successful businesses should operate and are available to advise on your strategies at any stage of the business lifecycle. This may include how you can grow or revive your business, or even wind it down.

We offer a full range of services in Insolvency and Recovery assisting both creditors and debtors with the following:

  • Formal insolvency appointments
  • Solvent liquidations
  • Business restructuring advice
  • Advice to insolvent individuals or directors of insolvent companies
  • Advice on claims by Liquidators or the Official Assignee
  • Agency for Liquidators and Receivers outside New Zealand


If you have an issue that doesn’t fit within one of the above categories, talk to us about it. Our skills, experience and connections allow us to tailor our advice to suit your needs.


Formal insolvency appointments

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, we can assist you through that also.

Receiverships
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.

Voluntary Administrations
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.

Solvent Liquidations
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.

Business Restructuring
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.

Advice to insolvent individuals or directors of insolvent companies
Should you or your company become insolvent, we can work with you to identify where things went wrong and suggest solutions to improve the position of your financial situation. 

Timely and expert advice may be able to save you from bankruptcy,
or your business from Liquidation
or Receivership.


Depending on what that solution is, we can prepare all the necessary documentation on your behalf. As we are familiar with the processes and requirements of the Court, we can work alongside your lawyer, or directly with you, to achieve the best result for everyone. This may include preparing financial information to present proposals to your creditors, preparing documents to commence a formal wind up of your company or applying for bankruptcy.

Advice on claims by Liquidators or the Official Assignee
As experienced Liquidators and Receivers, we thoroughly understand the law regarding breach of directors’ duties and claims available to other Liquidators or the Official Assignee. This puts us in a strong position to help you to defend such claims.

You may be a bankrupt, a director of a liquidated company, or even a creditor being pursued for money you received from an insolvent individual or company. 

This is a complex area of law and our knowledge and experience allows us to provide advice on all aspects of insolvency.


Agency to Liquidators or Receivers outside New Zealand
We are Christchurch based but have been appointed as agents for Liquidators and Receivers throughout New Zealand and Australia. We are also available to carry out site visits for other Liquidators and Receivers where they are unable to travel, or don’t have capacity to act within required timeframes. We have significant contacts within the industry nationwide and are happy to carry out specific tasks on behalf of other practitioners.



Meet our Insolvency & Recovery Team

 

Christine Johnston is a Partner at Nexia New Zealand and specialises in both Business Advisory and Insolvency & Recovery.

She leads our Insolvency & Recovery team and is known for her commitment to going the extra mile. With over 20 years as an Accountant and Business Advisor, she is well connected in a range of industries. As well as her expertise in insolvency, Christine focuses her business advice on turnaround and growth, budgeting and cash flow forecasting, and management accounting and reporting.

She has strong negotiation skills which help to complete jobs efficiently and effectively She is also practical and pragmatic and always keep creditors’ interests front of mind.

Christine is a member of CAANZ and Women in Recovery & Insolvency (WIRI) Christchurch.

 


Christine Johnston
Partner

 

 


Craig Melhuish is a Director of Nexia New Zealand and Chair of the Board.

He has over 10 years’ experience as a Liquidator and Receiver and has dealt with everything from cafes to dairy farms. He has been named liquidator for more than 150 companies around New Zealand. 

As well as his work in Insolvency & Recovery, Craig leads our Corporate Advisory team and is a Partner in Business Advisory. He is frequently called upon to provide business valuation advice and expert witness reports in litigation matters. Craig has extensive experience in the commercial environment
and applies logical reasoning and a methodical approach to his work.

Craig is a member of Recovery Insolvency Turnaround Association of New Zealand (RITANZ) and INSOL International and a CAANZ accredited Insolvency Practitioner.

 

 


Craig Melhuish
Director

 


Kasey Love is Insolvency Manager and In-house Solicitor at Nexia New Zealand. With a legal background, she brings a unique set of skills to our team.

Kasey has over ten years’ experience specialising in insolvency. Throughout her career she acted as in-house solicitor for a government organisation in over 100 applications for liquidation; and for debtors and directors being pursued by Liquidators in relation to voidable transactions, reckless trading claims and other debt matters. In her current role, she assists in completing all aspects of insolvency assignments.

Kasey recognises the stresses inherent to everyone involved with the wind down of an insolvent company and pairs her expertise with a friendly, personal approach.

She holds a current legal practising certificate as well as membership to the New Zealand Law Society, Canterbury-Westland District Law Society, In-house Lawyers Association of New Zealand (ILANZ), RITANZ, INSOL International and is a committee member of Women in Recovery & Insolvency (WIRI) Christchurch.


Kasey Love
Insolvency Manager

 

If you would like one of our Insolvency & Recovery Specialists
to contact you, click here.

Talk to Us

Find out more about our Insolvency and Recovery Services.

 

 

Nexia New Zealand
Nexia House
Level 4, 123 Victoria Street 
Christchurch
Phone: 03 379 0829
Email: office@nexiachch.co.nz

www.nexia.co.nz