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Insolvency Law Review


The Ministry began a major review of New Zealand's insolvency law in May 1999. The objectives of the review were:

  • To provide a predictable and simple regime for financial failure that:
    • Can be administered quickly and efficiently
    • Imposes the minimum necessary compliance and regulatory costs on its users
    • Does not stifle innovation, responsible risk taking and entrepreneurialism by excessively penalising business failure;
  • To distribute the proceeds to creditors in accordance with their relative pre-insolvency entitlements, unless the public interest requires otherwise;
  • To maximise returns to creditors;
  • To enable individuals in bankruptcy again to participate fully in the economic life of the community; and
  • To provide international co-operation in relation to cross-border insolvency.

Email: insolvencyreview@med.govt.nz

Available Documents

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