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New Zealand law explained for everyone

Companies Act 1993

Voluntary administration - Effect of appointment of administrator

239AD: Effect on receivership

You could also call this:

“How a receiver's role continues when an administrator is appointed”

If a company is in receivership and an administrator is appointed, this doesn’t mean the receiver has to leave their job. The receiver stays in their position even when an administrator comes in. This rule helps you understand what happens when a company in trouble gets both a receiver and an administrator to help sort things out.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM321525.

Topics:
Business > Industry rules
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239AC: Effect on liquidation, or

“Pausing liquidation when an administrator is appointed”

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239AE: Administrator must investigate company's affairs and consider possible courses of action, or

“Administrator checks company's situation and considers options for creditors”

Part 15A Voluntary administration
Effect of appointment of administrator

239ADEffect on receivership

  1. The appointment of an administrator to a company in receivership does not remove the receiver from office.

Notes
  • Section 239AD: inserted, on , by section 6 of the Companies Amendment Act 2006 (2006 No 56).