Coronavirus

BusinessNZ, lawyers tell govt: relax insolvency law

Jenny Ruth
Wed, 01 Apr 2020

While at least some of the major banks have said they will judge the solvency of companies wanting to borrow on their pre-coronavirus crisis financial position, lawyers are saying the government still has to relax insolvency law to ease the liability directors face.Other countries New Zealand usually compares itself with, including Australia and Britain, have already moved to give directors a temporary "safe harbour" relief from laws that make them personally liable for any debts if their company trades while insolvent.Business New Zealand chie...

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