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

CHANGE TO DISTRICT COURT PROCEDURE-SUMMARY JUDGMENT

Written by Shane Created: 12 February 2014 A party can now apply for summary judgment within 20 working days after the date by which the defendant is required to serve its response.Once an application for summary judgment is filed, the proceeding is in abeyance until the summary judgment application is dealt with. The parties are not required to serve […]

SLEEPING DIRECTOR-DO NOT BE IGNORANT

Written by Shane Created: 12 November 2013 Question:Can a director of a company who has not signed a personal guarantee be liable for a company’s debts? The answer is YES! The notion of limited liability applies to a persons shareholding. A director owes various duties to the company and ultimately the creditors of the company. If […]

IS THERE A CORRELATION BETWEEN A LACK OF VALUES AND THE NON PAYMENT OF DEBT?

Written by Shane Created: 02 January 2013 Many of you will remember and remember well the lessons you received from your parents early in your life, particularly your father. Sons and daughters will remember well their father’s constant chanting about the things that were important to develop, demonstrate and protect. Things that you were told were […]

WHAT IS A FUNDING CREDITOR

Written by Shane Created: 04 October 2012 In liquidations, there is an opportunity to pursue action against either the director(s) or some related party for funds or assets removed from the company prior to the liquidation. If an unsecured creditor funds the costs of legal action, the creditor stands ahead of all creditors, including GSA holder, […]

NEW DISTRICT COURT RULES – DEFENDANTS RESPONSE TIME

Written by Shane Created: 15 June 2012 There has been a further change to the District Court Rules – Civil Procedure Previously a defendant had 30 working days or 31 working days including the day of service to file Form 3 – Response by Defendant. The defendant now has only 20 working days to file Form 3 – Response […]

NEW DISTRICT COURT RULES

Written by Shane Created: 22 May 2012 There is a new District Court rule now in force which requires, at the time of serving a Notice of Claim, to serve initial discovery of documents. We suggest that you contact your solicitor to find out exactly which documents you must serve along with your Notice of Claim.

TENACITY COLLECTS MONEY

Written by Shane Created: 08 March 2012 Quote: “the only person who will stay closer to you in adversity other than a friend, is a collector from Specialist Collections & Consultants Limited”

IS PAYING DEBT ALSO NOT ABOUT PERSONAL INTEGRITY

Written by ShaneCreated: 07 March 2012 Question for you. Who can escape a customer with poor morals and morale quicker? An insurance company or a financier? The difference is, mostly, in the term of the contract. Generally insurance contracts are renewed every 12 months and before the contract is renewed, the insured must make a full […]

DISPUTES TRIBUNAL – NEW FORM

Written by ShaneCreated: 23 November 2011 We are pleased to advise, and say about time, that the Ministry of Justice has updated the form to file a Disputes Tribunal claim. You can find the form by visiting http://www.justice.govt.nz/Tribunals, Disputes Tribunal, forms and guides, Disputes Tribunal claim form. You can download the PDF version or from the Ministry […]

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