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


Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>



Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news