19 Dec 2011 - Tread carefully if you're a supplier dealing with receivers

Businesses that supply goods or services to a company in receivership need to be very careful in tier dealings with receivers. Read More

(Source: Sunday Star Times)

23 Nov 2011 - Oral Contracts and implied terms

Hunter Grain Ltd v J Swap Contractors Ltd is a useful reminder that in some contexts a binding contract can arise from an oral arrangement. Hunter Grain won $4.63m in damages. Read More

(Source: Buddle Findlay)

15 Nov 2011 - Payment terms improve by four days since 2008

New Zealand businesses took on average 44 days during the September quarter 2011 to pay their bills, representing an improvement of more than four days since the onset of the Global Financial Crisis. Read More

(Source Dun & Bradstreet)

1 Nov 2011 - If You Have Goods in Storage You Can Breath Again

The case revolved around the definition of "lease for a term of more than 1 year" in the Personal Property Securities Act 1999 (PPSA).  The court's interpretation was that the definition excluded bailments where the bailor was not regularly engaged in the business of bailing goods.  Had the court based its decision more closely on the literal wording, it would not have made this exclusion, and many people could have been caught out. Read More

(Source: Adam Jackson - Buddle Findlay)

23 Oct 2011 -Stifiled Cash Flow the SME killer

15 Oct 2011 - Special efforts needed to educate people about credit reporting changes

THE CREDIT industry and credit reporters will be expected “to make special efforts” to inform people about upcoming major changes to credit reporting law that will affect almost all adult New Zealanders, and the impact of the new system. Read More

(Source: Craig Sisterson - NZ Law Online)

6 Oct 2011 - More credit but less privacy in new law

Consumers will have to give up much more of their personal financial information to borrow money under sweeping changes to the credit reporting law next year. Read More

(Source: Dominion Post)

23 Sep 2011 - Why Terms On The Back of Invoices Don't Work

Even though it appears to be common practice to put terms and conditions on the reverse of invoices in the hope that this makes them enforceable, this may not be the case. Read More

(Source http://cfdtr.blogspot.com/)

11 Sep 2011 - Paid in full but debt collectors came calling

Following on from why not to have the Hells Angels be your debt collectors Rob Stock discusses another case of why not all debt collectors are made equal. Read More

(Source: Sunday Star Times)

11 Sep 2011 - Disputes Tribunal a cost-effective alternative to court action

Tanya Surrey from Mactodd lawyers in Queenstown discusses how easy the Disputes Tribunal is to use. Read More. We also discussed this issues in issue 6 and issue 7 of our newsletter Cash Flow Times

(Source: Sunday Star Times)

4 Sep 2011 - Hells Angels in court over fake debt collection

Three Hells Angels' gang members were among four men arrested in Auckland this morning in an operation to target unlawful debt collection: Read More

(Source: NZ Herald)

31 Aug 2011 - How to raise your credit rating

The higher your credit scores, the better shot you have of getting a loan or credit card application approved. Improving your credit scores takes time, but it can be done. Here are some important tips: Read More

(Source: Business Day)

21 Mar 2011 - At just $3, PPSR protection is worth the price

For the price of a cup of coffee, many owners of small and medium-sized businesses could save themselves a lot of grief - and money - if they happen to get caught up in someone else's problems.

It costs only $3 (plus GST) to go online and register a security on the Personal Property Securities Register (PPSR), (Or Cash Flow Doctors can do it for you) ensuring that when a business goes bust, you will move up the queue of creditors. Read More

(Source: NZ Herald)

7 Feb 2011 - Slow-payers put strain on SMEs

Despite tentative signs of economic recovery, business owners say being paid is one of the greatest challenges they face. Read More

(Source: Herald on Sunday)

30 Jan 2011 - Directors held to account for a reason

Company directors can be held personally liable for the losses of their companies. This is often a surprise to the directors concerned. Limited liability only applies to shareholders, not directors.

Two cases in recent years highlight how creditors can seek to recover funds against directors. Read More

(Source: Herald on Sunday)

26 Jan 2011 - Late payers 'growing drain on cashflow'

Cash flow is expected to remain a major challenge for New Zealand businesses in the year ahead, according to research that shows the number of firms with outstanding debt increased during the final three months of 2010. Read more

(Source: NZ Herald)

10 Jan 2011 - Introduction of positive credit reporting

Last year Privacy Commissioner Marie Shroff approved changes to the Credit Reporting Privacy Code which will for the first time allow credit reporters Veda Advantage and Dun and Bradstreet to begin collecting "positive" information about New Zealanders' credit history as well as other information including driver's licence numbers. Read more

(Source: NZ Herald)

20 Dec 2010 - Voidable Transactions Update

Further to our article Companies Fight Against Claw-back Law and Ruling Rocks Firm , Simpson Grierson have written a report on thier take on the case. Frankly we have to agree with McEntee hire that the new insolvent trqnsactions regime is just appaling. Read more

(Source: Simpson Grierson)

5 Dec 2010 - The ID Nightmare

Nearly a quarter of a million New Zealanders use at least one false name, and more than half of those have not paid their bills. We have come across a few here at Cash Flow Doctors.

Credit bureau Veda Advantage has identified one person who uses as many as 36 different names. It has records on nearly 2000 people who use more than five aliases, and 127 who are known by 10 or more different identities. Read more

(Source: Herald on Sunday)

7 Nov 2010 - Gift Duty bonus has high price

One of the issues that has been concerning us here at Cash Flow Doctors is that there is no register of Trusts. This is because when we are asked to chase debt from a trust there is now way of finding out who are the trustees unless a copy of the trust deed is sighted. This is totally impratical for small creditors.

Rob Stock has an article in the Sunday Start Times which calls for the registration of trusts, allbeit for diffrent reasons.

However he lists 10 reasons to keep that trust and point 2 is titled Defying Creditors, and point 9 is titled Introducing Complexity. We would have to say these do not sound very helpful for you. Read More

(Source: Sunday Star Times)

5 Nov 2010 - Review of Construction Contrcts Act 2002

Building and Construction Minister Maurice Williamson has released a discussion document on the Construction Contracts Act 2002 today. (When we find a copy of the discussion documents we will add a link here)

The Act regulates progress payments under construction contracts and provides an adjudication process for people with building disputes.

The Act is being reviewed in response to feedback received through the Building Act review.

"We want to hear from people who have used the Act's adjudication process to resolve building disputes. This will help us to identify what's working well and to address those areas of the Act that require improvement." Read More

1 Nov 2010 - Unfair Contract Conditions in Terms of Trade

The Ministary of Consumer Affairs has been giving some thought to outlawing unfair contract terms under their review of consumer law.

Essentially the Ministary sees some clauses in standard type contracts being unfair to consumers and they want to have them banned by statute. A recent Sunday Star Times article gives some good examples of the effect these clauses. Read More

(Source: Sunday Star Times)

20 Oct 2010 - Half of NZ companies late in paying bills

Analysis of default listing from Veda Advantage, who are or default lising providers. Default listing is the big stick that a debt collector uses to assist with collection of a debt and this article reinforces how effective a default listing is. Read more.

(Source: NZ Herald)

14 Oct 2010 - Without Prejudice

We often hear the term without prejudice used when dealing with business matters. However, it is a term that is often misused and also misunderstood. We look at what without prejudice really means and how it is used. Read more.

(Source: NZ Law - Fineprint Magazine)

22 Sep 2010 - Business debt falls

Some interesting statistics from Baycorp which show that their average business debt submitted for debt collection is $1522 and consumer $852. At Cash Flow Doctors the average size of debts submitted this year have been fairly constant at $2750 for business debt and $1000 for consumer debt. Read more.

(Source: stuff.co.nz)

12 Sep 2010 - Companies fight against claw-back law

A follow up article on the consequences of the change to Sec 292 of the Companies Act. We are currently researching if terms of trade could be updated to take account of the change. Read more.

(Source: Herald on Sunday)

10 Sep 2010 - Giving credit where it's due

The Office of the Privacy Commissioner is considering a move to "positive" credit reporting - whereby lenders could know what types of credit you have, who the provider is, the limit, and whether the account is open or closed. Read more.

(Source: NZ Herald)

3 Sep 2010 - So how do Terms of Trade help you get paid?

Miller Dean Chartered Accountants wrote this article - Terms of Trade - and how the help you get paid. To be honest we could not have put it better so feel free to down load and have a read.

(Source: Miller Dean Chartered Accountants Ltd)

30 Aug 2010 - 7 Ways to make sure you get paid

And just to prove that debt collection basics are the same world wide here are seven ways to make sure you get paid for the goods and services you sell from a Canadian point of view. Read more

(Source: sbinfocanada.about.com)

22 Aug 2010 - Ruling rocks firm

A further example of the consequence of the change to Sec 292 of the Companies Act mentioned in the previous article. Read more

(Source: Herald on Sunday)

15 Aug 2010 - Proof of debt in the payment

Here's a consequence of change to Sec 292 of  the Companies Act we weren't aware of. If you receive payment from a debtor who later goes into bankruptcy the defence of it being in the normal course of business no longer applies.

We are perplexed as to how you, as a creditor, are supposed to prove that your debtor is not insolvent when you get paid. Read more

(Source: Herald on Sunday)

12 Aug 2010 - The courts - up close and personal with the PPSA

The finer detail of the Personal Property Securities Act 1999 (PPSA) continues to be sculpted by the Courts through a series of decisions, at what seems to be an increasing rate.  

This is the second in a series of three Brief Counsel from Michael Arthur, Jennifer Tunna & Matthew Yarnell of Chapmann Tripp summarises the key rulings over the last year with, where possible, links to the full judgments. Read more

(Source: Chapmann Tripp)

12 Aug 2010 - Conducting a case in the Disputes Tribunal

A paper put together by Clendons is about how to conduct a case in the Disputes Tribunal Methodically, Professionally (with dignity), and to ensure that you get a fair result. Read more

(Source: Clendons - Barristers & Solicitors)

4 Aug 2010 - A four step plan to reduce PPSA risk

The Personal Property Securities Act (PPSA) presents risks to creditors who do not take steps to protect themselves.  These risks are not difficult to circumvent but still seem not to be understood by many.

With Australia scheduled to adopt a PPSA next year, we thought it timely to recap on some PPSA basics, look at what the New Zealand Courts have said and examine the impact of the Australian legislation.

This is the first in a series of three Brief Counsels on this issue from Katherine Reynolds of Chapmann Tripp. Read more

(Source: Chapmann Tripp)

22 Jul 2010 - Proper Terms of Trade Vital

A tale of why registering an interest in your goods under the Personal Properties Securities Act is so important and how terms of trade fit into this issue. Read more.

(Source: Taranaki Daily News)

18 Jul 2010 - Scheme may be dull but businesses need it

A pratical story about how the PPSA works and the importance of actually registering an interest in your goods under the Personal Properties Securities Register. Read more

(Source: Herald on Sunday)

16 Jun 2010 - More Intrusive Credit Reports

Consumers wanting to buy on credit may soon have to provide more sensitive information about their credit history and give driver's licence details for the first time. Read more

(Source: Business Day)

30 Sep 2009 - Which Debt Collection Agency Should We Use?

A commentry from Peter Hattaway of Hattaway & Associates giving his opinion on what to look for in your debt collector. Read more (Peter is an expert in debtor management who is well known in the field throughout Australasia. We respect his opinions.)

(Source: Hattaway & Associates)

21 Jul 2008 - Debt Collection 101: What to do when customers don't pay

10 simple steps you can take to effectivly reduce the number of slow paying debtors. Read more

(Source: NZ Herald)