Company liquidation filings rise, still below 2008 GFC levels, High Court says

The removal of Covid-19 financial support, and a more active approach by Inland Revenue to pursue actions, contributed to an increase in new company liquidation application filings, the High Court says. (Image: Getty)

John Anthony

Fri, 12 Jul 2024

Company liquidation applications have been steadily increasing since mid-2022, but are still well below the highs of the 2008 Global Financial Crisis, the High Court says.The High Court has released its 2023 annual report, which said new filings of insolvency proceedings increased 24% to 323 cases in 2023, and disposals increased by 45% to 520 cases, it said.Insolvency proceedings awaiting hearing or judgment increased by 6%, or 30 cases in 2023, compared to 2022, it said.“Insolvency work reflects the state of the economy, with a slight l...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Stay informed on business, government and financial developments across New Zealand.
Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].interval) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}