If you're a building contractor who issues simplified
invoices, you may need to think again. A recent high court case
emphasised the need for contractors to get invoices right the first
time if they intend to rely on summary procedures to maximise their
cash flow.
By Andrew Steele - 30 Jun 2015
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This week the Supreme Court granted an insurer leave to appeal
in the case of Southern Response Earthquake Services Limited v
Avonside Holdings Limited. This litigation concerns
arguments around what costs can be included in estimating the full
replacement cost.
By Andrew Steele - 25 Jun 2015
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Peer to peer lending (or P2P) looks set to grow in New
Zealand with the introduction of LendMe later this
year. Offering competition for banks and finance companies,
the new P2P finance model is an interesting alternative to
traditional means of lending and borrowing.
By Matt O'Neale - 25 Jun 2015
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The recent case of Timberland Limited v Levin &
Anor is a victory for trade creditors. The case concerned the
voidable preference regime under the Companies Act. Under that
regime, a liquidator of a company can "claw back" payments made to
a creditor within two years of liquidation.
By Claire Mansell - 30 Apr 2015
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Extensive changes to the Credit Contracts and Consumer Finance
Act 2003 are coming into force on 6 June 2015.
They will have a significant impact on lenders who advance funds to
consumers (for example, home loans, credit cards, vehicle finance
or those who lend money for the purchase of consumer goods and
services).
By Claire Barron - 27 Mar 2015
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Does your business use standard form consumer contracts? If so,
you need to be aware that unfair contract terms will be prohibited
in standard form consumer contracts from today (17 March 2015).
By Claire Barron - 17 Mar 2015
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The headlines relating to the Clayton v Clayton case,
the judgment for which the Court of Appeal released in early March
2015, read "Ruling Redraws the Landscape" and "Divorce Case Throws
Doubt on Trusts' Status". Among other things, the Court held that
Mr Clayton's right to remove discretionary beneficiaries, and
therefore leave himself as the sole person entitled to receive
income and capital from the trust, could be property and therefore
relationship property. It also held that the value of that
relationship property was the net value of the trust's assets.
By Lewis Grant - 9 Mar 2015
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Former employee Karen Hammond has just had a massive win against
her former employer Credit Union Baywide. After Karen's friend was
"let go" from Credit Union, Karen decided to throw a dinner party
for her. The pièce de résistance of the evening was a cake with the
phrase "F### U Credit Union" iced on the top.
By Claire Mansell - 5 Mar 2015
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Significant changes to the Building Act 2004 and new regulations
came into effect on 1 January 2015. The legislation contains
far-reaching changes for residential building contracts and some
contracts of sale of residential properties by developers and
investors.
By Kay Keam - 26 Feb 2015
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Under the voidable transaction regime, the liquidator of a
company can "claw back" payments made to a creditor within
the two years prior to liquidation. In order to do so
liquidators must show the payment was made at a time when the
company was insolvent and allowed the creditor to receive more than
they would have in the liquidation.
By Claire Mansell - 18 Feb 2015
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