Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Insolvency Statistics For Year Ended 30 June 2000



Statistics released by the New Zealand Insolvency and Trustee Service today show a 18% decrease in the number of bankruptcies for the year ended 30 June 2000, and a 18% decrease in court ordered company liquidations as compared with the same figures recorded for the year ended 30 June 1999.

There were 2,700 people adjudicated bankrupt in the year ended 30 June 2000, as against 3,297 in the year ended 30 June 1999.

The majority of bankruptcies are being instigated by the debtor rather than the creditor. For the twelve month period ended 30 June 2000, 62% of bankruptcies resulted from debtor's petitions, which is the same proportion for the 1999 year.

Consumer bankrupts represent the majority of bankrupts, being 66% of all bankrupts in the year ended 30 June 2000. This is an increase from 1999 in which 59% of all bankruptcies were consumer related.

The corporate sector has recorded a decrease of 18% in court ordered company liquidations and an increase of 7% in receiverships. There were 810 court ordered liquidations and 235 receiverships for the year ended 30 June 2000. The comparable figures for 1999 were 987 liquidations and 219 receiverships.

The Companies Office recorded a 25% increase in new company registrations for the year. There were 33,234 new company registrations for the year compared with 26,502 in 1999.

The number of companies on the register continue to rise, with a total of 230,359 companies as at 30 June 2000, compared with 217,000 companies as at 30 June 1999, representing a 6% increase.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>