Our Services

Insolvency NZ | Voluntary Liquidation Process NZ | Receivership NZ Management and Services

We can advise you on voluntary liquidation processes in NZ, receivership NZ processes and insolvency NZ processes. Courses of action may include restructuring, administration, formal compromise, liquidation or receivership. We will work with you to get you the best outcome. Our specialist areas are insolvency management, security analysis, business appraisal and recovery. We are instructed by creditors, accountants, lawyers, banks and business owners to determine the most appropriate course of action when a business is facing financial difficulty.

How we work

Our approach to how we work with distressed companies is what sets us apart: we are approachable, we listen and we are non-judgemental. Where possible, we visit the premises, speak to staff to better understand cultures, procedures, systems and not just glean facts from balance sheets. When a company is struggling to meet its obligations, it needs to understand the source of the problem. We provide a fresh perspective to help businesses identify the core issues. We provide all stakeholders with as much information as they need to make a decision on a company’s future and what it will mean for them.

What we do

Asset audits and business appraisals

We work with financial institutions and/or banks who instruct us to audit a company that has shown signs of financial difficulties. It may be that the company is not demonstrating the usual transaction flows in its bank account, or has defaulted on payments. It could also be a situation where the financial institution has been alerted by a director that the company may be struggling.

We work with an organisation’s management and staff to review the current situation, assess its financial health, asset value and securities and prepare a full review of the company for our client.

If you’d like to talk to us about how we can help you, please call on 0800 491 636 or email office@shepharddunphy.co.nz

Company restructuring and recovery

If you are a company that is experiencing cashflow difficulties, we will work with you to help identify and understand the reasons why. We will appraise your current financial position, including reviewing cashflow and systems, and will provide you with recommendations as to the best course of action.

By getting us involved early, we can work with you to identify and resolve the underlying issues. We will provide you with sustainable, long-term solutions.

If you’d like to talk to us about how we can help you, please call on 0800 491 636 or email office@shepharddunphy.co.nz

Court Liquidations

A Court Liquidation is the result of a petition to the court to place the company in liquidation. Often this is a creditor who has exhausted all other remedies to recover outstanding amounts.

More than half of our annual liquidation appointments are as a result of creditor petitions to the High Court. We accept appointments from High Courts nationwide.

If you’d like to talk to us about how we can help you, please call on 0800 491 636 or email office@shepharddunphy.co.nz

Creditor Compromise

In certain situations a compromise can be reached with a company’s creditors to accept a scheme of arrangement to settle outstanding debt.

We would formulate a realistic proposal and convene a meeting of the company’s creditors. We can be appointed Compromise Administrators to oversee the process.

A creditor compromise can be an effective tool to rehabilitate a company.

If you’d like to talk to us about how we can help you, please call on 0800 491 636 or email office@shepharddunphy.co.nz

Receiverships

We are appointed as receivers by banking institutions, companies or individuals who have a registered security interest (i.e. General Security Agreement).

When you appoint us as receivers, we will work quickly with all stakeholders to understand the organisation, report directly to you and seek to realise assets to the value of your security. We will determine the best course of action, which could include the options to trade the business or sell it as a going concern.

During the process we will also make sure that we fulfil our obligation to ensure that all creditors’ interests are also protected.

If you’d like to talk to us about how we can help you, please call on 0800 491 636 or email office@shepharddunphy.co.nz

Shareholder / Director Resolutions (Voluntary Liquidations)

Under Section 241 of the Companies Act 1993, as a shareholder and/or director of a company which is unable to meet its financial obligations and you believe to be insolvent, you can seek to voluntarily place your company in liquidation.

Before making this decision, we recommend you talk to us, in conjunction with your accountant and/or lawyer, to determine whether voluntary liquidation is the best solution for your business. The optimal time to talk to us is as soon as your company starts to struggle for cash or to meet its obligations. We can then provide proactive strategies, where possible, to turn your business around and avoid liquidation. Where this is not practicable we will do our best to make sure the administration process is swift, straightforward and professional.

A Shareholder resolution to place a company in liquidation requires approval by 75% of the shareholders.

If you’d like to talk to us about how we can help you, please call on 0800 491 636 or email office@shepharddunphy.co.nz

Solvent Liquidation

As a shareholder and/or director, you can appoint us to help you with your solvent liquidation. This is when the company has ceased trading and its existence is no longer required.

The appointment is made by way of special resolution by shareholders or directors.

We will provide all the necessary documentation, including solvency certificate, to complete the process.

If you’d like to talk to us about how we can help you, please call on 0800 491 636 or email office@shepharddunphy.co.nz

Voluntary Administrations

As a director and/or shareholder you have the ability to appoint an Administrator. An administration process provides a moratorium period where a plan or Doca (Deed of Company Arrangement) is prepared and submitted to the stakeholders/creditors for approval.

The administration process is governed by strict timetables. It can be a useful mechanism to enable rehabilitation of a struggling but viable business.

If you’d like to talk to us about how we can help you, please call on 0800 491 636 or email office@shepharddunphy.co.nz