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Showing posts from April 5, 2020

Insanity Of Trading While Insolvent - Robbo Is Going To Let You

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I am a company director by profession.  I work in jurisdictions that allow you to do stuff as director that in a New Zealand context would fry the end of your nuts off even in a glass of very cold water.  I was going to write a very long post about this topic above but it would alas be a TL;DR. Is it just me or this "temporary" positioning from Grant Robertson, just completely fucking insane? One change announced by Finance Minister Grant Robertson on Friday would allow businesses to hold off paying some debts for six months – or to put their debts into "hibernation" as Robertson termed it – if half of their creditors, both by number and the value of their debts, agreed to that. Bears hibernate for winter, and I mean the markets not Robbo.  Debt without sufficient certain cashflow in the future? Do not. Another change would make it less likely that company directors could be held personally liable for allowing the companies that they controlled t