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@HARDY'S LIMITED status has changed from Registered to In Receivership on the 3 July 2017.
Registered From 1 Oct 2014 To 3 Jul 2017
Mark Stephen CARLSON
2 Tynefield Court Brighton VIC 3186 AU
Administrator Appointed 3 Jul 2017
Kare JOHNSTONE and Andrew John GRENFELL from MCGRATHNICOL LIMITED
Phone: +64 9 366 4655 or 9 926 5115
Level 17 34 Shortland St Auckland 1010 NZ
Email: firstname.lastname@example.org | email@example.com
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What is Receivership?
Receivership is where a Receiver is appointed by the Court or under a Deed or Agreement to realise the assets or manage the business of a company for the benefit of the secured creditors.
Sometimes secured assets are critical to the operation of the company and trading cannot continue without them. In these situations, liquidation can soon follow.
The Receiverships Act 1993 defines the qualifications of a Receiver who has specific powers which include the right to:
- Inspect any books or documents relating to the company / property
- Demand, recover and issue receipts for income of the company / property in receivership
- Manage, insure, repair and maintain the company / property in receivership
What is the difference between receivership and liquidation?
In a Receivership, the assets are realised for the benefit of the one secured creditor who made the appointment of a Receiver whereas in a Liquidation the assets are realised primarily for the benefit of all creditors in order of priority (secured creditors, employees and IRD get their money before others).
Receivership is governed by the Receiverships Act 1993.