Informal Arrangements

Coporate Insolvency Services Auckland New Zealand

Informal Arrangements

An informal arrangement is exactly what the name implies. It operates without reference to the courts but it requires a plan (proposal) that results in a compromise between the company and its creditors. An informal arrangement is covered under Part 14 of the Companies Act 1993.

A compromise is defined as including:

  • Cancelling all or part of the debt of the company; or
  • A moratorium, where creditors agree not to pursue their debts for a specified time;
  • Varying the rights of its creditors or the terms of the debt; or,
  • An arrangement by shareholders to take equity in exchange for their debt
  • An alteration of a company’s constitution that affects the likelihood of the company being able to pay a debt.

Informal arrangements are another tool that can be used to save a company from liquidation or receivership.

The Benefits of Using Norrie & Daughters

Corporate Informal Arrangements Service Auckland

Quality & Experience

  • Chartered Accountants Australia & New Zealand Accredited insolvency practitioners
  • Free 1 hour meeting to be briefed on your situation
  • Experience and sound advice in all aspects of corporate Insolvency
  • New Zealand and cross border insolvency assignments including assignments involving European countries, Asia and South America including tax havens.

Results

  • We have successfully implemented schemes of arrangement involving significant debt including bank and tax debt and avoided the liquidation of the company’s.
  • Proven record in obtaining results for creditors from setting aside voidable transactions, reckless trading and similar actions.
  • We have successfully acted for debtors, directors and shareholders against claims by other liquidators against them
Corporate Informal Arrangements
Corporate Informal Arrangements Services

Services

  • Insolvency advice
  • Provision of an Administrator
  • Acting as a receiver
  • Assisting in preparing and securing Informal Arrangements
  • Assisting in preparing and securing Compromises, Amalgamations and Schemes of Arrangement under the Companies Act 1993
  • Providing a liquidator for solvent liquidations
  • Acting for Directors, Shareholders and Creditors against other Liquidator claims
  • Expert witness

To learn more about the services we offer to clients both in New Zealand and overseas

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