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Company directors, look sharp! New company requirements in force

Company directors, look sharp! New company requirements in force

New Companies Office requirements came into force yesterday. Failure to comply with these new rules could result in companies being struck off the Register.

By Melissa Higham - 29 Oct 2015

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Directors Beware: Liability for GST/Reckless Trading

Directors Beware:  Liability for GST/Reckless Trading

Think a company structure will avoid personal liability? Think again. Directors of liquidated companies can be held personally liable for GST.

The Companies Act gives the IRD long arms and very big teeth. In a liquidation situation, there is potential personal liability to directors if GST liability was incurred when the company couldn't meet its obligations to the IRD.

By Tony Johnson - 25 Aug 2015

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Settling employment disputes by termination

Settling employment disputes by termination

Employers and employees commonly settle serious employment relationship problems by agreeing to go their separate ways. Often these settlements include a payment to the employee in exchange for their commitment to ongoing confidentiality and a restraint of trade. Parties have the option of getting the settlement agreement signed off by the Ministry of Business, Innovation and Employment's Mediation Service. There are advantages and disadvantages in doing this.

By Andrew Steele - 31 Jul 2015

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Public persona, private life

Public persona, private life

The recent publication by a magazine of a photo featuring Dan and Honor Carter's 2-year old child has reignited debate over what media outlets should or shouldn't be allowed to publish.

By - 21 Jul 2015

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Lack of detailed invoices proves costly for building contractors

Lack of detailed invoices proves costly for building contractors

If you're a building contractor who issues simplified invoices, you may need to think again. A recent high court case emphasised the need for contractors to get invoices right the first time if they intend to rely on summary procedures to maximise their cash flow.

By Andrew Steele - 30 Jun 2015

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Full replacement insurance - the devil is in the detail

Full replacement insurance - the devil is in the detail

This week the Supreme Court granted an insurer leave to appeal in the case of Southern Response Earthquake Services Limited v Avonside Holdings Limited. This litigation concerns arguments around what costs can be included in estimating the full replacement cost.

By Andrew Steele - 25 Jun 2015

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Peer to peer lending on the rise

Peer to peer lending on the rise

Peer to peer lending (or P2P) looks set to grow in New Zealand with the introduction of LendMe later this year. Offering competition for banks and finance companies, the new P2P finance model is an interesting alternative to traditional means of lending and borrowing.

By Matt O'Neale - 25 Jun 2015

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Court of Appeal offers more certainty to creditors

Court of Appeal offers more certainty to creditors

The recent case of Timberland Limited v Levin & Anor is a victory for trade creditors. The case concerned the voidable preference regime under the Companies Act. Under that regime, a liquidator of a company can "claw back" payments made to a creditor within two years of liquidation.

By Claire Mansell - 30 Apr 2015

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Further law reforms set to overhaul consumer credit contracts

Further law reforms set to overhaul consumer credit contracts

Extensive changes to the Credit Contracts and Consumer Finance Act 2003 are coming into force on 6 June 2015. They will have a significant impact on lenders who advance funds to consumers (for example, home loans, credit cards, vehicle finance or those who lend money for the purchase of consumer goods and services).

By Claire Barron - 27 Mar 2015

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Unfair terms in standard form contracts prohibited from today

Unfair terms in standard form contracts prohibited from today

Does your business use standard form consumer contracts? If so, you need to be aware that unfair contract terms will be prohibited in standard form consumer contracts from today (17 March 2015).

By Claire Barron - 17 Mar 2015

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