Two central components of the liquidation regime established by the Companies Act 1993 are the clawback provisions, which empower liquidators to recover assets paid out before liquidation, and Schedule 7, which establishes the relative priority of unsecured creditors in respect of the company’s remaining assets.
This seminar will provide an overview of both the clawback provisions and Schedule 7. It will be of interest to practitioners advising entities before or during insolvency, or entities dealing with companies that may become insolvent in the future.
Understand the key components of the regime for the collection and distribution of assets in a liquidation.
Learn about Schedule 7 of the Companies Act 1993, and the relative priority of unsecured creditors in a liquidation and the interface between the Schedule 7 priorities and secured creditor and proprietary claims.
Receive practical advice about the clawback regime, and how it might apply to common commercial situations.
Learn about recent case law developments.
Who Should Attend?
Commercial lawyers and general practitioners who advise insolvency practitioners, or entities which deal with companies that may become insolvent.
Tony has been a litigation partner with Martelli McKegg for 15 years. He specialises in insolvency and creditor related matters together with trust disputes.
He works closely with many Auckland insolvency practitioners and also acts for receivers and corporate clients. His practice includes:
- Assisting in liquidations and receiverships
- Personal and corporate proposals and schemes and arrangements
- Mortgagee sales and enforcement of other securities including guarantees and caveats
- Priority disputes as between different categories of creditors
He has previously presented for ADLS on mortgage sale matters and has contributed to the NZ Law Journal and Law Talk on insolvency related issues.
Tim is a commercial litigation partner at Bell Gully, with particular expertise in insolvency and banking law.
He advises banks, insolvency practitioners, and creditors on a range of contractual and commercial issues, with a focus on contentious insolvency and enforcement disputes.