Insolvency Law

With the recent economic downturn, there has been an increase in the numbers of corporate and personal insolvencies. Our Insolvency Lawyers have an in-depth specialist knowledge to advise insolvency practitioners, creditors and all other parties involved in insolvency issues.

As well as being New Zealand's leading leaky homes and leaky building lawyers, Grimshaw & Co also assist with all aspects of Insolvency Law including receiverships and liquidations, security instruments and enforcement, and the commencement of all proceedings.

Specialist insolvency legal advice

We are able to provide specialist legal advice in relation to all insolvency matters, including the enforcement of security interests, collection of debts and litigating claims.

We have an understanding and knowledge of security interest matters, including priority of such interests and the application of the Personal Property Securities Act.

We act for individuals, companies, lenders, creditors as well as receivers and liquidators. Claims we have undertaken for such clients include claims against directors for breaches of the Companies Act (including actions for breaches of fiduciary duties by directors) setting aside various transactions on behalf of receivers and liquidators (including voidable preferences and securities), challenging the validity of charges and recovery actions by liquidators.

We have a specialist knowledge of the provisions of the Insolvency Act 1967, including acts of bankruptcy, the preparation of bankruptcy proceedings and the legal issues that arise following the adjudication of a bankrupt, including the administration of bankrupts' estates and the distribution of assets. We are also familiar with the appointment of Trustees under the Insolvency Regulations 1970.

Experience with receiverships

We have also had experience with receiverships both for appointment of receivers by the terms of a debenture or other instrument or appointment by the Court. In the latter situation, we have sought directions from the Court for receivers.

We have a deep knowledge of the provisions of the Receivership Act 1993 and have, amongst other things, advised on such matters as the powers, duties and liabilities of receivers, the disclaimer of contracts and other liabilities.

We are able to assist in the formation of a receivership strategy to assist the receiver in the critical areas of a receivership where legal issues arise, for example, employment contracts, terms of trade, retention of title issues, and the realisation of assets.

Company liquidation assistance

If a company is required to be put in liquidation we can assist in such process, including the Court appointment of a liquidator, assisting with the legal issues arising during the liquidation and advising on the duties, rights and power of liquidators. This includes making applications to the Court on matters that might require judicial intervention.

In advising on all matters relating to receiverships and liquidations, we are able as part of such service to provide a high level of litigation support resource.

Contact us for an Insolvency consultation