Companies (Reporting by Insolvency Practitioners) Regulations 2020

10 Prescribed information for receiver’s further report

(1)

The further reports referred to in section 24(1) and (2) of the Receiverships Act 1993 in respect of a company in receivership must contain—

(a)

the company name; and

(b)

the company number; and

(c)

the company New Zealand Business Number; and

(d)

the date and time that the receiver was appointed; and

(e)

the registration number and contact details of the receiver; and

(f)

if not provided in a previous report, a brief summary of the reasons for commencing the receivership; and

(g)

a summary of amounts received and paid in respect of the receivership—

(i)

since the previous report; or

(ii)

if no previous report has been prepared, since the commencement of the receivership; and

(h)

details of any proposals for the disposal of property in receivership, and details of any property disposed of since—

(i)

the date of any previous report; and

(ii)

the commencement of the receivership; and

(i)

a summary of all fees, allowances, reimbursements, and other benefits paid to the receiver, including any receiver who left office during the receivership, since the commencement of the receivership; and

(j)

a summary of all amounts received and paid in respect of the receivership since the commencement of the receivership; and

(k)

details of amounts owing, as at the date of the report,—

(i)

to any person in whose interests the receiver was appointed; and

(ii)

to preferential creditors; and

(l)

details of the amounts likely to be available for payment to creditors, as at the date of the report, categorised by amounts available for payment—

(i)

to preferential creditors; and

(ii)

to all other creditors.

(2)

A summary required by subclause (1)(g) and (j) of amounts received must be categorised in a manner that assists creditors to understand the cash flow situation of the company.

(3)

A summary required by subclause (1)(g) and (j) of amounts paid must be categorised by payments made to each class of creditors.

(4)

A further report referred to in section 24(2) of the Receiverships Act 1993 in respect of a company in receivership must, in addition to the information prescribed in subclause (1), contain a statement recording the outcome of the receivership, including a summary of the assets available to be—

(a)

returned to the directors; or

(b)

distributed to creditors through liquidation of the company; or

(c)

sold as a going concern.

(5)

A receiver preparing a report under subclause (1) may exclude from the report details of any proposals for disposal of property in receivership if the receiver considers that their inclusion would materially prejudice the performance of the receiver’s functions.