Insolvencies: a catch-up year

Insolvencies: a catch-up year
There were warnings that as the government withdrew its covid-19 financial support and Inland Revenue cracked down on unpaid taxes, insolvencies would increase. (Image: Getty)
Riley Kennedy
If the forecasts are anything to go by, 2023 could be a big year for the insolvency industry. There were warnings at the start of last year that as the government withdrew its covid-19 financial support and the Inland Revenue Department (IRD) cracked down on unpaid taxes, insolvencies would increase. However, as the economic situation worsened, with the Reserve Bank of New Zealand (RBNZ) trying to engineer a recession for the latter part of 2023, even higher rates of insolvency were expected to follow. Restructuring Insolvency &a...

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