v11i1-the-corporate-shield.pdf (application/pdf Object) How could liquidation affect you? | Companies Office The Official Site. Liquidation is immediate and serious. Trading companies are usually closed down. From the date of liquidation the liquidator takes custody and control of all the company’s unsecured assets and assists secured creditors where necessary. The assets are collected and sold for the benefit of the company’s creditors. When the liquidation is complete the company is struck off (removed from) the Register of Companies. If you are an employee? Your employer going into liquidation can have serious implications for you. The liquidator takes an interest in assets subject to existing security interests and will contact those creditors. Where the liquidator decides against trading, your employment will be terminated and you will be given a claim form for any salary, wages, holiday pay and/or redundancy you may be owed.
As an employee, your claim for unpaid salary or wages and holiday pay is preferential. Visit the Labour Information website now. Visit the Work and Income (WINZ) website now. Liquidation | Frequently asked questions | Insolvency and Trustee Service. The Liquidation Surplus Account holds funds that have not been distributed in liquidation estates administered by the Official Assignee and private sector liquidators. The undistributed funds are held by the Public Trust and are available on application by liquidators to the Official Assignee of New Zealand. Section 316(4) of the Companies Act 1993 states that; “Money held in the Liquidation Surplus Account may be- (b) Paid, subject to such conditions as the Official Assignee for New Zealand may impose, in meeting the claims of the creditors of a company in the liquidation of which the Official Assignee or any other person is the liquidator, for payment of the costs of proceedings in the liquidation after the commencement of the liquidation, legal or other expert advice, or the costs of any expert witness, where the Official Assignee for New Zealand is satisfied that it is fair and reasonable for those costs to be met out of the account”.
Claims of the Creditors Funding of Proceedings. Managing involuntary closure for companies. Involuntary closure can take place in different ways, depending on the structure of the business closing down. For companies, the process can either be receivership or liquidation. Receivership can be initiated by a secured creditor to recover their financial interest in a company’s assets, while liquidation takes place primarily to repay unsecured creditors who don’t hold any security in a company’s assets. Both receivership and liquidation are often confused with voluntary administration. This is the process of appointing an administrator to turn around a failing company while at the same time preventing creditors from pursuing further actions – such as placing it in receivership or liquidation.
On this page: Top What is receivership? Companies often gain finance by offering an asset as security over investment from a creditor. Receivership does not affect any assets that haven’t been used as security for the creditor. Receivers The receivership process What is liquidation? Liquidators. What happens during a liquidation? | Companies Office The Official Site. Regular reports A liquidator must give regular reports throughout the liquidation. These reports are sent to every known creditor and shareholder as well as to the Registrar of Companies. First report The liquidator must prepare a first report and include: Statement of company’s affairsProposals for conducting the liquidationEstimated completion dateAlert investors to their statutory right to call for a meeting of creditors or shareholdersA list of every known creditor of the company with each creditor's address (if known).
Time limits for delivery of the report differ depending on the method of appointment: For court ordered liquidations, 25 working days after the liquidator’s appointment, andFor all other liquidations, five working days after appointment. Further reports The Liquidator must prepare and file six-monthly reports on: The conduct of the liquidation during the preceding six-months andAny further proposals for completing the liquidation. Creditors meeting Top. International competition launched to design new urban village - Media releases. The new urban village is a joint Christchurch City Council, Ministry of Business Innovation and Employment, Te Rūnanga o Ngāi Tahu and CERA/CCDU development. It will be built on the corner of Madras and Gloucester streets. Competition entrants will design and build a new medium-density urban residential complex that provides a variety of housing options and lifestyle choices based on the key principles of sustainability, affordability, innovation and a strong sense of community.
“The new development will inspire and excite a new generation of residents to live within Christchurch’s Central City, where we are rebuilding what will be one of the most modern and liveable cities in the world,” says Christchurch Mayor Bob Parker. “Pre-registrations for the competition, from architects and designers working throughout the world, have already drawn almost 130 responses; this is exciting for our city.”
Mr Parker says the eyes of the world are on Christchurch as it redevelops. Breathe - The new urban village project - Future Christchurch.
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How to Start a Startup. March 2005 (This essay is derived from a talk at the Harvard Computer Society.) You need three things to create a successful startup: to start with good people, to make something customers actually want, and to spend as little money as possible. Most startups that fail do it because they fail at one of these. A startup that does all three will probably succeed. And that's kind of exciting, when you think about it, because all three are doable. If there is one message I'd like to get across about startups, that's it.
The Idea In particular, you don't need a brilliant idea to start a startup around. Google's plan, for example, was simply to create a search site that didn't suck. There are plenty of other areas that are just as backward as search was before Google. For example, dating sites currently suck far worse than search did before Google. An idea for a startup, however, is only a beginning. What matters is not ideas, but the people who have them. People What do I mean by good people? 3D Glow - Electrical and Lighting Design. This is the personal website of Shaun Tippett. Shaun is a Chartered Professional Electrical Engineer with 13 years' experience. He currently works for Beca as a Senior Electrical Engineer.
Here you will find useful information on topics relating to commercial electrical engineering and lighting design. Have a look around and let me know what you think. Did you find this site useful? Could it be improved or is there some content you would like to see added? Let me know! No Surprises Work Flow: LucidChart.
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