What you should know when dealing with potentially insolvent companies
A recent Supreme Court decision setting out the duties of directors when companies strike difficulties is generating much discussion at boardroom tables around New Zealand.
This decision regarding the director of Debut Homes Limited has significant implications for directors and their decision-making process in respect of continuing to trade or winding down the affairs of potentially insolvent companies.
Our Turnaround & Restructuring team has summarised the key findings from this judgement, the options available to directors and how we can assist to help and protect directors who find themselves in similar situations.
Published in July 2022