BWA Insolvency Limited

18/08/2024

Most business owners are feeling the impact of New Zealand’s challenging business environment at the moment. While acknowledging financial distress is an important first step, the most effective move you can make is to deploy a strategy to combat it. In our latest article, we explore key areas of business operations to address when faced with financial challenges— and how seeking professional guidance can help you navigate the economic challenges and potentially avoid liquidation.

Business downturn doesn’t have to mean business failure. Engaging an insolvency expert is the first step to avoid liquidation.

18/07/2023

Do you know what a Statutory Demand is and what you should do if you receive one?

Unpaid debts can have severe consequences; it's crucial to understand the Statutory Demand process and the timeframes involved to protect your business from potential liquidation.
⚠️ Don't risk your business's future by ignoring a Statutory Demand. Seek guidance from an insolvency practitioner or Voluntary Administration expert to ensure you make the right decisions and protect your company's interests.

What is a statutory demand? And why did I receive one? The process, timeframes, and implications you need to know to protect your business.

08/02/2023

January Marketing Stats:
January tends to be a quiet month for insolvent circumstances. This year is no different, with only 1 additional insolvent circumstance compared to Jan 2022.

This month, the top industries have seen an increase across the board, with the business and property industries both tripling, and the construction industry increasing from 10 to 15 compared to the same period in 2022.

01/12/2022

Due to the recent Voluntary Administrations of Ruapehu Alpine Lifts and hospitality group Go To Collective, the little known state of insolvency is having its time in the spotlight. We expect to see more companies in the next year utilise the Voluntary Administration process to get back on their feet during uncertain economic times.

If you are considering VA for your business, this useful article outlines how the process works and how BWA can help. Contact us today if you would like to know more.

Find out Voluntary Administration benefits, employment entitlements, how it affects your business day to day runnings, suppliers and more.

27/11/2022

All the signs show there are adverse economic conditions on the horizon. It appears undeniable there are difficult times ahead for businesses in New Zealand. For some, the worst-case scenario may play out with liquidation the final result. When a company goes into liquidation, the impact is far-reaching. However, if a company director can face reality early on, they have a chance at softening the blow—not only for themselves but all those who are affected when a business fails.

How voluntary administration helps during recession. Company liquidation is far-reaching, voluntary administration nz can soften the blow.

24/10/2022

Did you know the process of Voluntary Administration automatically triggers a moratorium which freezes most action from claimants or creditors? This pause provides company directors breathing space and the Administrator time to determine a plan for the future. Here, we take a look at what can (and can’t) happen during the Voluntary Administration moratorium.

The Voluntary Administration process triggers a moratorium, freezing most action from claimants & creditors. Here's what happens next.

19/09/2022

Ownership of Patagonia has been transferred to a trust that was created to protect the company’s values and mission as well as a nonprofit organization.

19/09/2022

The impact of a company going into liquidation hits owners and shareholders hard. But it doesn’t stop there. From employees to IRD, we take a look at the real cost of liquidation and who pays the price.

Unlike voluntary administration, liquidation is the last resort & most impactful. When liquidation occurs, who is affected & at what cost?

25/08/2022

We recently reported on the increase in IRD-issued Statutory Demands and the possibility of more on the way as the Government’s Covid hand-outs dry up. If you find yourself served with a statutory demand, it’s essential you know the options available and the short timeframes in which you must act.
Bryan Williams discusses what to do when you receive a statutory demand.

Received a statutory demand? Understanding the statutory demand process is your best chance to avoid liquidation. BWA Insolvency specialists.

21/08/2022

Principle Bryan Williams spoke to BusinessDesk last week regarding the increase in liquidation applications made by the Inland Revenue Department.

Inland Revenue (IRD) has “turned a corner” as it starts liquidating more businesses over unpaid taxes, an insolvency specialist says.IRD had been ta...

11/08/2022

Principal Bryan Williams discusses Voluntary Administration, and when it should be considered for your business.

When a business begins to fail, what are the options? Unlike liquidation, Voluntary Administration provides the greatest chance of survival.