Insolvency is a word that conjures up a range of emotions most of them negative. Insolvency practitioners are placed in a position of trust. Their job is to realise assets and pursue recoveries on behalf of an insolvent companys creditors.
The proper conduct of an insolvency process requires a broad range of commercial, financial and legal expertise. In addition, experience, sound judgment and empathy are necessary to manage the complexity and inherent stresses on creditors and other stakeholders affected to maximise outcomes.
It is therefore surprising that, under New Zealand law, almost anybody over the age of 18 who is of sound mind, has not been bankrupt in the previous two years, and has no direct continuing business relationshi…
Read the full article at: http://www.nbr.co.nz/opinion/self-regulation-insolvency-sector-positive-step-cs
