<h1 class="entry-title">Category: Debts</h1>
07 Apr

COVID-19 DEBT HIBERNATION

The Government is introducing legislation to change the Companies Act to help businesses facing insolvency due to COVID-19 to remain viable, with the aim of keeping New Zealanders in jobs.

07 Jan

Selling Debt- Be Carefull

A business may decide to sell it’s debt for a variety of reasons:
1. The business needs to raise CASH immediately;
2. The debt has become aged and considered uneconomic
to pursue;

TRANS-TASMAN PROCEEDINGS ACT 2010

Written by Shane Created: 27 March 2019 What happens if a debtor leaves New Zealand and relocates to Australia owing a creditor money, in some instances a considerable sum. Is all lost for the creditor? The Trans-Tasman Proceedings Act 2010 in some circumstances may offer the solution. A New Zealand registered judgment can be registered in […]

Retention Monies Under New Commercial Construction Contracts Must Be Held On Trust In The Form Of Cash Or Liquid Assets

Written by Shane Created: 30 August 2018 The change, in essence is to protect vulnerable subcontractors from the insolvency of the parties holding retention monies. The change came in to effect from 31 March 2017 and is not retrospective. The new rule applies to commercial construction contracts which provide for monies to be withheld by one party (Y) from an […]

CONSTRUCTION CONTRACTS ACT 2002

Written by Shane Created: 01 August 2017 For many credit controllers, credit managers, debt collectors and other professionals, the Construction Contracts Act 2002 is confusing and part of the confusion relates to how to recover money that is owing under the Act. So basically what is the Construction Contracts Act 2002. The act sets out to […]

WHAT HAPPENS WHEN AN ATTACHMENT ORDER STOPS

Written by Shane Created: 14 November 2016 The Court receives applications all the time to “Attach” either the WINZ benefit or the wages of a debtor person (judgment debtor) to repay by instalments the debt amount that is owed. Usually, when an Attachment Order is applied for through the District Court the judgment debtor is either receiving wages […]

DO YOU KNOW WHERE YOUR DEBTOR IS?

Written by Shane Created: 15 January 2015 It is important that the address details that you provide to the Court in civil enforcement procedures are correct, particularly in respect to a Financial Assessment Hearing. If a summons for a Financial Assessment Hearing is served upon your debtor, who later does not turn up at the Court […]

NEW DISTRICT COURT PROCEDURE FROM 01 JULY 2014

Written by Shane Created: 11 August 2014 The District Court from 01 July 2014 has a new process for filing a claim. The process seems to go back to the formal pleading process of some years ago and a case management conference among other things has been added. To file a claim in the District Court, […]

GLOBAL CREDIT CRISIS-HAVE WE LEARNED ANYTHING?

Written by Shane Created: 20 May 2014 I recently met with a 70 year woman who had just recently retired, to discuss the payment of a debt that we were asked to collect. The woman, quite honestly was the salt of the earth. During the conversation to discuss the debt owed, I was told the following. […]

DEFAULT JUDGMENT

Written by Shane Created: 12 February 2014 Default judgment can now be sought where the defendant’s response does not disclose any defence to the plaintiffs claim or admits the facts which are subject to the claim. This is not legal advice. Seek advice from your solicitor or other professional before taking action in regard to this general […]

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