Bankruptcy Alternatives

business_dealWe can provide advice on the alternatives to bankruptcy. We can provide advice on:

  • Summary instalment orders
  • Informal settlements
  • The No Asset Procedure ("NAP")
  • The consequences of bankruptcy
  • The formal Part 5, Subpart 2 Proposal, Insolvency Act 2006

A Part 5, Subpart 2 Proposal, Insolvency Act 2006 is an individual compromise with creditors which requires 75% in value and a majority in number of creditors voting on the matter to agree.

Bankruptcy

Click here for more information on bankruptcies. This is a New Zealand government site that provides information and online services on personal bankruptcies and company liquidations that are administered by the Insolvency and Trustee Service (ITS). Once there click on Information Library and then Resources and Information.