University of Canterbury Home
    • Admin
    UC Research Repository
    UC Library
    JavaScript is disabled for your browser. Some features of this site may not work without it.
    View Item 
    1. UC Home
    2. Library
    3. UC Research Repository
    4. Faculty of Law | Te Kaupeka Ture
    5. Law: Journal Articles
    6. View Item
    1. UC Home
    2.  > 
    3. Library
    4.  > 
    5. UC Research Repository
    6.  > 
    7. Faculty of Law | Te Kaupeka Ture
    8.  > 
    9. Law: Journal Articles
    10.  > 
    11. View Item

    The Operation and Development of New Zealand's Personal Insolvency Regime in 2020 (2021)

    Thumbnail
    View/Open
    NZ Report 1.docx (28.05Kb)
    Type of Content
    Journal Article
    UC Permalink
    https://hdl.handle.net/10092/102946
    
    ISSN
    1039-3293
    Collections
    • Law: Journal Articles [173]
    Authors
    Taylor, Lynne cc
    show all
    Abstract

    This report reviews patterns of use and case law developments in relation to New Zealand’s personal insolvency law regime in 2020. The Insolvency Act 2006 (NZ) governs personal insolvency in New Zealand. The Act is administered by the Insolvency and Trustee Service (ITS), a division of the Ministry of Business, Innovation and Employment (MBIE). The Act sets out five formal and collective insolvency procedures available to insolvent, natural persons: bankruptcy; a proposal for repayment of debt which must be accepted by a debtor’s creditors and approved by the High Court; a debt repayment order where a debtor whose total unsecured debts are not more than $50,000 becomes subject to an order made by the Official Assignee that they repay their debts by instalments; the no asset procedure, akin to a mini-bankruptcy and available where a debtor’s total unsecured debts are not more than $50,000; and a composition where a bankrupt’s creditors and the court approve an arrangement under which creditors receive payment of their debts and the bankruptcy is annulled.

    Citation
    Taylor L (2021). The Operation and Development of New Zealand's Personal Insolvency Regime in 2020. Insolvency Law Journal. 29(1). 52-55.
    This citation is automatically generated and may be unreliable. Use as a guide only.
    ANZSRC Fields of Research
    48 - Law and legal studies::4801 - Commercial law::480101 - Banking, finance and securities law
    Rights
    All rights reserved unless otherwise stated
    http://hdl.handle.net/10092/17651

    Related items

    Showing items related by title, author, creator and subject.

    • The New Zealand Court of Appeal's take on insolvent trading: Yan v Mainzeal Property & Construction Ltd 

      Taylor, Lynne (2021)
    • Preventing the use of financial institutions for money laundering and the implications for financial privacy 

      Le Nguyen C (Emerald, 2018)
      © 2018, Emerald Publishing Limited. Purpose: This paper aims to discuss the implication of money laundering preventive measures for financial privacy, with the focus on banking secrecy. Design/methodology/approach: This ...
    • COVID-19 Response in New Zealand 

      Taylor L (2020)
      Introduction In March 2020 the New Zealand Government responded to the COVID-19 public health crisis by closing New Zealand’s borders to non-citizens and residents, and imposing a strict four-week lockdown period. These ...
    Advanced Search

    Browse

    All of the RepositoryCommunities & CollectionsBy Issue DateAuthorsTitlesSubjectsThesis DisciplineThis CollectionBy Issue DateAuthorsTitlesSubjectsThesis Discipline

    Statistics

    View Usage Statistics
    • SUBMISSIONS
    • Research Outputs
    • UC Theses
    • CONTACTS
    • Send Feedback
    • +64 3 369 3853
    • ucresearchrepository@canterbury.ac.nz
    • ABOUT
    • UC Research Repository Guide
    • Copyright and Disclaimer
    • SUBMISSIONS
    • Research Outputs
    • UC Theses
    • CONTACTS
    • Send Feedback
    • +64 3 369 3853
    • ucresearchrepository@canterbury.ac.nz
    • ABOUT
    • UC Research Repository Guide
    • Copyright and Disclaimer