Legal News

Coronavirus (COVID-19) New Zealand—‘Safe harbour’ for company directors and business debt hibernation—what do these proposed changes mean for you and your business?

Published on: 16 April 2020
Published by: LexisPSL
  • Coronavirus (COVID-19) New Zealand—‘Safe harbour’ for company directors and business debt hibernation—what do these proposed changes mean for you and your business?
  • Safe harbour
  • Business debt hibernation
  • How does business debt hibernation compare to other company insolvency procedures?
  • Is the business debt hibernation scheme right for my business?

Article summary

Restructuring & Insolvency analysis: Last month, Dentons Kensington Swan predicted that the New Zealand government would relax reckless trading rules and introduce a safe harbour for directors in light of the coronavirus (COVID-19) pandemic. The government’s recent announcement of a temporary safe harbour for directors and the business debt hibernation scheme is a positive step to help struggling businesses and company directors under pressure. We examine these changes in more detail. Written by James McMillan, David Shillson and Mark Broad of Dentons Kensington Swan. or take a trial to read the full analysis.

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