On Monday 4 of November 2019, Minister Kris Faafoi released a statement announcing changes that will favourably affect consumers and workers of failed businesses.

On Thursday 29 August 2019 the Official Assignee for New Zealand was appointed liquidator of Financial Planning Limited (FPL) and Impact Enterprises Limited (IEL).

The Insolvency and Trustee Service Annual Statistics and Debtor Profile Report for 2018-19 is now available.

A long-time bankrupt has been handed down one of the strongest sentences in recent years following an investigation by the Insolvency & Trustee Service and MBIE’s Integrity & Enforcement Team.

An Auckland accountant has been sentenced to three years imprisonment for seven bankruptcy offences, including hiding assets from the Official Assignee through the use of circular shareholding.

Latest Insolvency and Trustee Services (ITS) statistics show that bankruptcy numbers hit an 18 year low in 2018, due to the introduction of alternate insolvency options.

Wellington debtor Tony Knight has been sentenced for seven offences under the Insolvency Act, including misleading the Official Assignee (OA) and incurring debt while bankrupt.

The Insolvency and Trustee Service will be closed from 3pm on Monday, 24th December 2018 until 8.30am on Thursday, 3rd January 2019.

The Ministry of Business, Innovation and Employment (MBIE) is investigating complaints made in relation to Gordon Paul Bayne, aka Paul Bayne.