Official Assignee budget cut as personal insolvencies fall

The Official Assignee is an officer of the court (Image: NZME).

Wed, 24 May 2023

A “significant” drop off in the number of personal insolvency cases over the past three years has led to the Official Assignee’s budget being cut by more than a quarter for the upcoming fiscal year.This is despite expectations that those cases would balloon because of covid-19.However, an insolvency specialist says they could increase again as the Reserve Bank of NZ continues to put up interest rates to fight inflation.The Official Assignee, a business unit within the ministry of business, innovation and employment (MBIE), adm...

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