Insolvency Practitioners Bill

Convicted Nelson liquidator Pat Norris

Why laws need to be tougher on cowboy liquidators


The theft conviction of Nelson liquidator Pat Norris demonstrates why the laws regulating insolvency practitioners need reform, lawyers suggest.

Expert 'incredulous' at lax insolvency standards

Thu 9 Dec

Insolvency practitioners need to be made more accountable and proposed changes don't go far enough, the commerce select committee has been told.

The government’s proposed Insolvency Practitioners Bill would allow the registrar of companies to banning those deemed unfit to carry out liquidations, voluntary administrations and receiverships.

This negative licencing system aims to deal with an offending or incompetent minority without overly burdening the rest of a relatively small sector - estimated at less than 200 insolvency practitioners across the country.

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