Company Liquidation in NZ
Liquidations are often referred to as the start of the end of a company and usually, this is the case. The liquidation of a company can occur via several routes however in most cases, where the company decides it can no longer continue to trade as it is insolvent, the shareholders will appoint a liquidator.
If you’re looking for liquidators in Auckland, then we’re here to help, but of course we work NZ wide with liquidation services in NZ. Company Liquidation NZ services are what we offer.
Another common method of liquidation is via the High Court. This occurs when a creditor of the company petitions to liquidate the company by issuing a statutory demand. If the statutory demand goes unremedied, then that creditor can apply to the High Court to put the company into liquidation.
In rare instances, the board of a company is able to appoint a liquidator to the company. However, this is possible only if the constitution of the company specifically allows for the board to make this decision as voluntarily appointing a liquidator to a company is a shareholder decision.
If you are a shareholder of a company that needs to discuss insolvency options or a creditor who is looking to enforce a debt or has issued a statutory demand against a company, please contact us to discuss the options available to you.
Note: From 1 September 2020, all insolvency appointments including liquidations must be undertaken by a Licensed Insolvency Practitioner. The Insolvency Practitioners Regulation Act 2019 obtained royal assent on 17 June 2019 requiring insolvency practitioners that take appointments be licensed. An un-licensed practitioner is prohibited from accepting insolvency engagements. You can check if a practitioner is licensed at the following link – Insolvency Practitioners Register
Other areas in Liquidation: Voluntary, Court Appointed, Solvent, Liquidator Auckland.
