Voluntary administration - what companies need to know

Tuesday 20 November 2007

Good understanding of the new voluntary administration scheme and its limitations, and managing the competing interests of stakeholders will be vital to its success, says Bell Gully partner Murray Tingey.

The introduction on 1 November 2007 of the voluntary administration (VA) scheme, designed to provide a more user-friendly business rehabilitation option for companies, is one of the most significant developments in corporate insolvency law in New Zealand, says Murray, leader of Bell Gully's insolvency practice.

Murray presented a paper at the Auckland District Law Society's credit law conference in Auckland on 12 November, summarising the scheme and covering key factors for companies to consider before taking the VA route, including criteria, implications for different stakeholders, issues relating to deed of company arrangements and procedural aspects.

To read Murray's paper, click here.

For more information, please contact:

Murray Tingey
Partner