RITANZ is the professional body for insolvency practitioners and for those working in the field of business reconstruction and turnaround, and corporate and personal insolvency in New Zealand.
The organisation is affiliated with INSOL International, a worldwide federation of national associations for accountants and lawyers who specialize in turnaround and insolvency.
RITANZ has branches in Auckland, Christchurch and Wellington, and is run by an elected Board of volunteers, who work in or alongside the profession. Read more about us here.
MBIE reports back on changes to Insolvency Law
In September 2019, Cabinet agreed to a number of changes to insolvency law, including:
providing better consumer protection for people with gift cards or vouchers purchased from retailers who go into receivership
ensuring that the protection for wages owed to employees of failed businesses is broadened to cover entitlements to long service leave and payments in lieu of notice
reducing the period during which unrelated party creditors can be required to pay back amounts they received from a business being liquidated from two years to six months
better protection for creditors by extending the claw-back period from two to four years where the payment was made by the failed company to a related-party creditor, e.g. a payment to the spouse of a director of the company
Most of these changes were recommended by the Insolvency Working Group in its 2017 report, and will be included in a future Insolvency Law Reform Bill.
The Annual Corporate Insolvency and Restructuring Conference is the premier professional development event for the New Zealand restructuring and insolvency market and was recently held at SkyCity in May 2019. Our conference programme is designed to keep insolvency professionals up to date with latest case law and insolvency practices, as well as keeping attendees informed and abreast of the state of the economy and industry. Our regular Networking Events are free to members and provide opportunities for Continuous Professional Development throughout the year.
See our Events page for more details.
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