Just like a pre-nup, a well drafted Shareholders’ Agreement can cover what happens, not only when there is a “divorce” between the shareholders, but in relation to disputes or when a shareholder wants to exit the company.
Recent changes in the law have extended the jurisdiction of the District Court
so it can now hear claims of up to $350,000.00. Previously, any claims for over
$200,000.00 were dealt with in the High Court.
Company directors should be aware of the changes to the Companies Act 1993 (the Act) that became law on 24 June 2014. Some changes took immediate effect while others will be implemented later this year. This article focuses on two key changes: new criminal offences and registration of companies.
Having been in effect for several years, there have now been a number of successful prosecutions under the Unsolicited Electronic Messages Act 2007 (the “Act”) resulting in fines of up to $500,000 to a company and $200,000 to an individual.
From 6 June 2015 all lenders (including banks and third tier lenders) now have increased responsibilities when lending money for consumer purposes and repossessing goods over which they have security.
The reputation of your business may be its most valuable asset. You have worked hard to develop your brand, so it makes sense that you also know how to protect it.
You are buying a shiny new top-of-the-range television with a two year warranty. The salesperson asks if you would like an extended five year warranty for only $249.95 extra. Sounds sensible, right?
"My Dad is tougher than your Dad". Replace "my Dad" with "my lawyer" and the argument sounds just as silly. For commercial disputes, the better primary school lesson is to remember your ABCs: Always Be Cool.
Having risen 80% since March 2009, the NZX50 is now back at its all-time high from May 2007. We look at some key reasons why today's market is fundamentally different to the exuberance of 2007.
Since 2002, New Zealand has had a universal register on which parties are able to register any security taken over assets (other than land) called the Personal Property Securities Register (‘PPSR’).
In an exciting development Turner Hopkins has teamed up with Australian litigation heavyweight Slater & Gordon to investigate the viability of legal action arising from finance company collapses.
Thinking about downsizing? With the continuing effects of the economic downturn 'kicking in', interest rates on the increase, and commentators predicting a flat property market, you may be contemplating downsizing, debt reduction or disposing.
While companies provide limited liability and are considered a separate legal entity, directors can become personally liable if they breach their duties.
“Joy, we cannot thank you enough for your help with our purchase! You have been wonderful to deal with and so proactive (and patient with my numerous emails). We will be visiting NZ in April so will make sure we drop in to thank you in person.”
~ Mia
“To Michael Robinson – I wanted to thank you and your colleagues for many years of excellent service to the Bank. You have an outstanding business that has proved to be one of the most reliable and ethical businesses that Collections have dealt with in the almost 9 years I was with the Bank.”
~ Head of Collections
“John is very easy to talk to, he never makes you feel dumb, and never makes you feel like you are wasting his time for asking questions. He explains everything very clearly, every time. John's support staff are also very efficient and so easy to deal with. No detail is missed when dealing with them. My husband and I are fans of them all :)”
~ Jess
“I can't speak highly enough of Jenny. She got everything done in a timely manner and when my ex-husband threw a spanner in the works at the eleventh hour she got the required documentation to his lawyers and settlement back on track.”
~ Tracey
