Norrie & Daughters

Summary Instalment Orders

Summary Instalment Orders Services Auckland New Zealand

Summary Instalment Orders

SIO assists a debtor who does not meet the entry requirements of the No Asset Procedure but require some extra time to repay debts. A Financial Supervisor is required for each person who is accepted in the SIO program.

  • Entry is not automatic and there are entry requirements:
  • Debts must exceed $47,000;
  • A repayment plan, normally up to 3 years forms part of SIO process;
  • Creditors may make representations to the Official Assignee prior to entry into the SIO;
  • The Official Assignee can make orders regarding the debtor’s future earnings and property.

Norrie & Daughters can determine what solution is best for your circumstances and assist in the application process and provide the required financial supervision services.

The Benefits of Using Norrie & Daughters

Image

Quality & Experience

  • Chartered Accountants Australia & New Zealand Accredited insolvency practitioners
  • Free 1 hour meeting to be briefed on your situation
  • Experience in all aspects of personal Insolvency
  • Sound advice on all insolvency options available
  • Preparation of application and obtaining approval for bankrupts to be in business
  • Financial supervision of bankrupts in business
  • Full range of insolvency services
  • Acted or Directors, Shareholders and Creditors against Liquidator claims

Results

  • We have successfully implemented schemes of arrangement involving significant debt including bank and tax debt and avoided the bankruptcy of the persons
  • We have got self-employed bankrupts back into business
  • We have acted for various bankrupts against claims made by the Official Assignee in various matters
  • We have successfully acted for debtors, directors and shareholders against claims by liquidators against them
Image
Image

Services

  • Insolvency advice
  • No Asset Procedure
  • Summary Instalment Orders
  • Informal and Formal Compromises
  • Bankruptcy
  • Financial Supervision of Bankrupts in Business
  • Acting for Directors, Shareholders and Creditors against Liquidator claims

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

Contact Us Today