'Complete dereliction of duty’: Insolvency practitioner's licence cancelled

Rachael Reed, KC, chaired the independent disciplinary tribunal hearing the case. (Image: NZME)

Wed, 02 Oct 2024

A disciplinary tribunal has stripped insolvency practitioner Kelera Nayacakalou of her licence and found her guilty of all four charges laid against her.The case, brought by the New Zealand Institute of Chartered Accountants (NZICA), was heard in Wellington before an independent disciplinary tribunal chaired by Rachael Reed, KC, on July 3.In an unusual example of accountancy “sock puppetry", Nayacakalou contracted out insolvency services to a company operated by an unlicenced insolvency practitioner and convicted tax fraudster.The in...

Subscribe to BusinessDesk

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].name) | 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 }}

Economy

Start-up founders get tax help; thin-cap regime review

Start-up shareholders will be able to defer tax until a 'liquidity event'.

Pattrick Smellie 4:00pm

Markets

Salesforce is Gentrack’s new customer scout

The dual-listed tech firm says full-year revenue will be at least $230m.

Rebecca Stevenson 1:00pm

Salesforce is Gentrack’s new customer scout

The Quiz Free

QuiznessDesk, Monday, May 19

Take a break and try our quiz.

The Quizmaster 9:15am

Sponsored

Ready for the C-Suite leap?

Part-time programme. Full-time leadership transformation.

University of Auckland Business School

Sponsored

Active beats passive in tough times

Agile investing responds faster to market shocks and shifts.

Milford

More Law & Regulation

Law & Regulation

Bronwyn Heenan: Navigating workplace romance

Romantic work relationships involve difficult conversations that should be had.

Bronwyn Heenan 16 May 2025

Law & Regulation

Peter Huljich is Pushpay insider trader, flagging further appeal

Rich-lister Peter Huljich has been revealed as the Pushpay executive convicted of insider trading.Huljich’s identity had been suppressed since he was charged by the Financial Markets Authority (FMA) in February 2022.The current case has been closely watched by markets as it marke...

Staff reporters 15 May 2025