Top compliance mistakes that trigger insolvency proceedings and how to avoid them

Bankruptcy

Insolvency proceedings often arise from avoidable compliance failures: missed deadlines, governance lapses, statutory violations, and failure to adapt to evolving law. Businesses can significantly reduce insolvency risks by embedding robust compliance protocols, transparent governance, and proactive legislative tracking into their operational DNA. By focusing on these preventive measures, companies not only safeguard against legal exposure…

Liquidators of Northland engineering firm Obelisk Industrial chase director over $9m shortfall

Bankruptcy

The liquidators said they had nevertheless served demand letters on Culham seeking recovery of the amount alleged to have been misappropriated, and would “pursue all available legal remedies”. Obelisk’s sole shareholder is listed as Kara Culham, who shares an address with Steven Culham in Auckland’s Swanson, according to the Companies Office. Obelisk is said to…

Restructuring and Insolvency | Macfarlanes

Liquidation

We provide our clients with clear and strategic advice when they face significant commercial pressures and complex restructuring challenges. We help stakeholders across the capital structure to protect value and manage risk across every stage of the process. Our experienced team brings together our specialists in finance and corporate restructuring, including a qualified insolvency practitioner.…