B. Understanding the No Asset Procedure - a new alternative to bankruptcy
The Insolvency Act 2006 introduces a No Asset Procedure which allows some debtors with no hope of repaying any of their debts to enter a lesser form of insolvency and emerge after a year. It increases the threshold for Summary Instalment Orders to $40,000 and brings in a variety of other changes. It is a major change to New Zealand insolvency law.
This too is scary stuff for consumer credit managers.
No Asset Procedure (consumer bankruptcy) - what you NEED to know (90 minute session - 1.45pm-3.15pm)
How easy will it be for my debtors to avoid their debts and how will that affect my chances of getting paid?
Dates and cities
Now that we have a credible commencement date, we have scheduled seminars in 5 centres in the week of 5 November in:
Christchurch - 5 November, 1.45pm - 3.15pm
Dunedin - 6 November, 1.45pm - 3.15pm
Wellington - 7 November, 1.45pm - 3.15pm
Hamilton - 8 November, 1.45pm - 3.15pm
Auckland - 9 November, 1.45pm - 3.15pm
There will also be separate morning sessions on the changes in relation to voluntary administration and other corporate insolvency changes. For those wishing to attend both, lunch will be provided.
Costs: (Afternoon session)
The cost per person is $150 + gst. If you are a client of Baycorp or a friend of Baycorp (and we interpret this loosely), our partners in this exercise, the discounted price per person is $100 + gst. Please mention if you are a client of Baycorp in the box provided on the registration form so we invoice you correctly.
Presenters
Alan Liddell is principal of Capamagian Liddell in Tauranga. He presents Hattaways Credit Managment Law seminars throughout New Zealand. He is a leading expert on the Personal Property Securities Act and the co-author of Credit Revolution: A Practical Guide to Surviving the Personal Property Securities Act.
Peter Hattaway is the founder of Hattaway & Associates Ltd. He is a member of the Australian Credit Forum. He is the author of Paid in Full: a Guide to Credit Management in Australia, Total Quality Credit Management: How to Get Paid in New Zealand, and co-author of Credit Revolution: A Practical Guide to Surviving the Personal Property Securities Act. He has written the monthly credit management column for MG Business (the Mercantile Gazette) since 1995 and produces both the Australian and New Zealand monthly electronic Credit Management Law Bulletins.
See also: Voluntary administration - What creditors must know about this new insolvency option
Seminars overview and registration: Australia / New Zealand