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Govett Quilliam
1 Dawson Street
Private Bag 2013
DX NP90056
New Plymouth Central
New Plymouth 4342  

Phone (06) 768-3700
Fax (06) 768-3701

email@gqlaw.nz
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Insolvency

Our insolvency team provides specialist advice for companies, individuals and insolvency professionals on all aspects of insolvency law.

Our insolvency services include:

Assisting Creditors to Recover Debts - Unsecured creditors often experience difficulties recovering debts from defaulting debtors. Our insolvency team is experienced in bringing proceedings in the District Court and High Court to ensure that debtors pay what they owe. Once judgment is obtained against a defaulting debtor, there are a range of enforcement procedures that can be used to recover the debt, including:

  • Charging Orders - If the debtor has property, you may be able to apply to the Court for a charging order for the amount of the debt owed. This will ensure that the debtor cannot deal with the property until the debt is satisfied. This can be an effective measure to use, pending some other form of enforcement procedure, such as obtaining an order for sale. Property other than land can also be subject to a charging order, including the debtor's personal property, rights and interests in a partnership, any shares held by the judgment debtor or certain beneficial interests of the debtor.
  • Attachment Orders - If the debtor is an individual and is currently working or receiving a benefit, we can assist to apply to the Court for an attachment order requiring the employer or government agency to make payments to you out of the debtor's salary or benefit.
  • Garnishee Proceedings - If the debtor is owed money by a third party, a garnishee proceedings can be issued against the debtor to allow the creditor to obtain payment of the debt by the third party.
  • Warrants to Seize Property - A variety of seizure warrants can be applied for, including warrants to seize goods and property owned by the debtor to recover the debt. If a bailiff seizes goods, those goods may then be sold in order to pay the debt. Where judgement has been obtained to recover the property or land can also be obtained.
  • Bankruptcy Proceedings if the debtor is an individual - please see our bankruptcy section here
  • Liquidation Proceedings if the debtor is a company and is unable to pay its debt - please see our liquidation section here

We also regularly act for defendants who are facing court proceedings and dispute their liability to pay the claimed debt.

Receiverships -  If you are a secured creditor, placing a debtor company into receivership may be a swift and effective way of protecting your secured interest if a debtor company falters. If a receiver is appointed, they will have the power to realise assets of the company or otherwise manage this company for the benefit of its secured creditors.

We regularly act for secured creditors in placing a company into receivership, appointing receivers and assisting the secured creditor to receive the best outcome. We also regularly act for and advise receivers on issues and court proceedings arising from the receivership, including issues relating to the application of the PPSA.

For more information, please see our liquidations and receiverships legal guide here.

PPSA Matters - Securing Assets under the Personal Property Securities Register is an effective way to ensure that a creditor's interests are protected in the event that a debtor does not pay. However, the operation of the PPSA is often very complex, and the level of protection that securing an asset provides will differ depending on the nature of the secured interest, the timing and validity of the registration of the interest on the PPSR, and where the security interest falls under the PPSA's priority system.

We can assist creditors to effectively secure interests, and are experienced in representing creditors to protect their secured interests.

We are also experienced in advising insolvency professionals regarding application of the PPSA and on issues arising out of the priority system.

For more information, please see our legal guide on securing money over personal property here.

 

 
 

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