Insolvency and Restructuring
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Supreme Court forecast – storms ahead for directors
On 24 September 2020, the Supreme Court released its long-awaited decision in the case of Debut Homes Ltd (In Liquidation) v Cooper [2020] NZSC 100.
Construction’s Insolvency Predicament: Cooper, Mainzeal and Reckless Trading
Insolvency events have become common place in the construction industry in recent years. In particular, a focus has been investigating whether directors allowed their insolvent company to engage in re...
Lifting the roof on director’s duties
First prosecution for serious breaches of director’s duties under the Companies Act.
Contract uncertainty leaves room to resist statutory demand: Mega Projects v Orewa Developments
Last week, the Court of Appeal issued its decision in Mega Project Holding Ltd v Orewa Developments Ltd [2020] NZCA 111
COVID-19: Insolvency Law Changes
On Tuesday afternoon the government introduced legislation to implement the changes to the Companies Act 1993 (the Act) it announced in early April.  These changes are intended to assist companies to...
Administration of Retentions Trust: Oorshot v Corbel Construction
In 2018 the decision of Bennet & Ors v Ebert Construction Limited (in rec and liq) [2018] NZHC 2934 (Ebert) established an important precedent for the administration of retentions under constructi...
COVID-19: Lease in default?  Rent not paid on time?
Intended PLA Law Changes during COVID-19
COVID-19: Temporary ‘safe harbour’ from directors’ insolvency duties
As mentioned in Hesketh Henry’s article “COVID-19: Insolvency law changes” (https://www.heskethhenry.co.nz/insights-opinion/covid-19-insolvency-law-changes/), Grant Robertson has announced that ...
COVID-19: Insolvency law changes
On Friday afternoon the government announced temporary changes it intends to make to the Companies Act 1993 (the Act) to assist companies facing financial stress during the COVID-19 pandemic. Summary ...
06.04.2020 Posted in COVID-19 & Insolvency and Restructuring
COVID-19: Advice for businesses
We have prepared the following tips for businesses to guide them through the current circumstances.  Urgent advice should be sought where cash flow problems are arising, or where contractual obligati...
Ebert Construction: Court provides Guidance on the Retentions Trust Regime
Following our previous updates (Ebert Construction Receivership – What You Need to Know and Ebert Construction – Receivership and Liquidation), on 12 November 2018 the High Court ordered that the ...
EBERT CONSTRUCTION: RECEIVERSHIP AND LIQUIDATION
Introduction Following our Initial Note, the receivers of Ebert Construction Ltd (Ebert) released their first report on 1 October 2018.  Then, on 3 October 2018, Ebert put itself into liquidation, wi...
EBERT CONSTRUCTION RECEIVERSHIP – What You Need To Know
What is currently known? On 31 July 2018 Ebert Construction Ltd (Ebert) was placed into receivership.  John Fisk, Lara Bennett, and Richard Longman from PwC have been appointed receivers.  The recei...
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