Requesting liquidation or bankruptcy
Process for applying for the liquidation of a company / bankruptcy of a person
If you are an unsecured creditor who is owed more than NZ$1,000 you can apply to the High Court for a person to be made bankrupt. You will need the help of a solicitor with this process.
If the Court agrees, a notice will be issued to be served on the debtor. The debtor then has 10 working days to pay you what is owed.
If payment isn’t made you can then file a creditor’s application in the High Court to have the person made bankrupt. The Court will set a date and time for the application to be heard. This application and the details of the hearing will then be served on the debtor.
At the hearing, the Court will make a decision about whether a bankruptcy order should be made. The Associate Judge may decide to make an order for bankruptcy, or adjourn the hearing to give the debtor more time to pay.
If your debtor does pay then your application can be withdrawn. The Court will decide whether any costs you have incurred through the proceedings costs should be paid back to your by the debtor.
A similar process exists for companies that owe you money. Instead of appointing the Official Assignee, the Court might appoint a private liquidator at the request of the person making the application for liquidation.