Question Details: Last year, we took a builder to court and won. He was ordered to pay us a settlement this year in instalments. We have only received about 1/3 of the money to date. He has recently emailed to say his business is going into liquidation. We have already been to Collections at the Ministry of Justice. What should we do next to recover the rest of the money?
Filed under Litigation | 1251 View(s)
Your next step should be to file an application as a creditor with the liquidator. The details of the liquidator will be on the Government insolvency website www.insolvency.govt.nz. You can also find these by searching for the company on the Companies Office Register at http://www.companies.govt.nz, going to the documents page for that company, and opening the document titled 'Appointment of Liquidator'.
Companies in liquidation typically have fewer assets then liabilities. This means that creditors - in particular unsecured creditors - are likely to receive less than they are owed once liquidation is complete. You may receive nothing more.
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