NEW ZEALAND Law and Practice Contributed by: David Weavers, Alex MacDuff, Matt Consedine and Verniel Virtucio, Russell McVeagh
8. Case Studies and Practical Insights 8.1 Notable Case Studies No content provided in this jurisdiction. 8.2 Lessons Learned No content provided in this jurisdiction. 8.3 Application of Insights No content provided in this jurisdiction.
• historically, there were challenges for an insol - vency practitioner taking an appointment as receiver if they were involved in pre-planning work (although a statutory exception now exists which facilitates this). Balance sheet restructurings are typically imple - mented either consensually or via receivership or voluntary administration (or sometimes in tan- dem). One benefit of voluntary administration is that a balance sheet restructuring can be imple - mented whilst maintaining the corporate entity (although dissenting secured creditors cannot be crammed down). In contrast, a restructuring via a receivership will typically involve the transfer of assets into a new entity (releasing security that ranks subsequent to the appointor’s security).
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