You may be required to pay: Secured debts are any debts where the creditor can repossess your property if you stop making payments. Bankruptcy and insolvency — Property of bankrupt — Whether bankrupt controller had proprietary interest in assets of company — Whether Official Assignee entitled to claim trust asset. To register a claim or to obtain more information on Bankruptcies, No Asset Procedures, or Liquidations please visit our website at www.insolvency.govt.nz. Mr Currie is employed by the New Zealand Insolvency and Trustee Service (a business unit of the Ministry of Business, Innovation & Employment) as the Midland Region Hamilton Official Assignee. Once you're adjudged bankrupt, creditors can't continue to chase you for any debt included in your bankruptcy. Insolvent Debtors Relief Act 1729/ Official Assignee of New Zealand Make your application by following these steps: Once you've logged in, click on Do it online and then Apply for bankruptcy. The order in which payments are made is set out in the relevant Acts. By law, we must give your financial information to the Official Assignee, New Zealand Insolvency and Trustee Service (ITS). Once you have entered bankruptcy you need to cancel any direct debits, unless the type of debt isn’t included in your bankruptcy, e.g. notify the Official Assignee and your Debt Repayment Order Supervisor if you change your: take on any new debt over $1,000 without telling the new creditor that you're currently bankrupt. The Official Assignee is part of the New Zealand Insolvency and Trustee Service, who provides debtors with information about bankruptcy and other insolvency options. The Official Assignee administers bankruptcies and liquidations by collecting and selling assets to repay creditors. This case considers whether the Official Assignee can recover gifts made by way of forgiveness of debt prior to … If the creditor is not listed against your estate, give your estate officer their details so that they can be contacted and given a chance to file a claim. The Official Assignee’s Office is a government organisation that deals with insolvency. If we need any extra information from you, we'll contact you. You don’t have to pay any money now but you might have to repay the debt in the future if your friend doesn't pay. Accordingly, all of the Respondent’s property vested in the Official Assignee in Bankruptcy in New Zealand (the equivalent of the Official Trustee in Australia). to take part in the management or control of any business (this includes if you file your own taxes, ACC levies or workplace insurance, or you’re responsible for meeting any regulations, e.g. Because this is a legal process, you should get expert advice before applying. If you have an attachment order over your wages for a debt that is included in your bankruptcy, your creditor should tell your employer to stop making the deductions once they receive the report from the Official Assignee. leave New Zealand. arrange for the secured item to be returned/repossessed. If you don’t provide the information quickly, your application may be rejected. An Official Assignee is an officer in the law court who distributes a bankrupt's assets to the creditors.He also assists the bankrupt to relieve of his obligations to the creditors. This is one of the reasons people should not take a decision to apply for a formal insolvency procedure lightly. The creditors could not take away his assets. The Insolvency and Trustee Service has received ISO 9001:2015 certification for it's Quality Management System, and ISO 45001:2018 certification for it's Health and Safety Management System. 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