A Welcome Relief for Farmers
The government has acknowledged that farmers face many risks outside their control such as climate change, biosecurity threats and international market changes that can affect their ability to pay debt on time.
The newly-introduced Farm Debt Mediation Bill aims to help farmers struggling with debt. It aims to provide fair, timely resolution of issues around farm debt between creditors and debtors. Read more…
A 2018 High Court decision (Australasian Performing Right Association Ltd v 3228 Business Ltd [2018] NZHC 3088) has shown you should consider your right to use a third party's intellectual property, such as playing music in the course of your business operations.
If you use music or play the radio in a business or public setting that is considered a 'public performance' you could be contravening a provision in the Copyright Act 1994. This includes playing music and/or radio broadcasts in any commercial environment, such as a café, restaurant, bar, shop or factory. Read more…
Some possible implications for this country...
The Clarifying Lawful Overseas Use of Data Act was enacted in the United States in 2018. It enables federal law enforcement to force US-based electronic communications or remote computing service providers to disclose requested data in their possession, custody or control, whether or not that data is stored in the US or a foreign country. This is a game-changer for global data sovereignty. Read more…
With the rise of technology, it is usually easier and faster for an agreement or terms to be accepted electronically, as opposed to the traditional signing of a physical document. However, how reliable is that electronic signature/acceptance if a dispute arises between the parties? Read more…
A recent decision in the Court of Appeal (Bishop Warden Property Holdings Ltd v Autumn Tree Ltd [2018] NZCA 285) has made a director liable for almost $500,000 of company debt due to the company's failure to keep adequate accounting records. The decision highlights the importance for directors to understand their duties under the Companies Act 1993. The Act requires directors to ensure that the company keeps proper financial records.
If you are a director and fail to keep adequate accounting records, and the company is unable to pay its debts in liquidation, then the court can make you personally liable if the failure has resulted in:
· Uncertainty of the company's assets and liabilities
· The liquidator being impeded in the company's liquidation, and/or
· The company's insolvency has been caused by the failure.
The duty to keep proper accounting records is one of a number of duties that all directors have under the Act.
If you have any questions about what your duties might be, or what you need to do to fulfil those duties, please get in touch with us.
Since 1 April 2019, the Domestic Violence – Victims Protection Act 2018 has imposed new obligations on employers under employment legislation (The Holidays Act 2003 and the Employment Relations Act 2000) and the Human Rights Act 1993. Read more…
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