'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...

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