{"id":1905,"date":"2020-12-22T12:22:05","date_gmt":"2020-12-22T02:22:05","guid":{"rendered":"https:\/\/nz.legalvision.com.au\/?p=1905"},"modified":"2024-12-10T12:18:52","modified_gmt":"2024-12-09T23:18:52","slug":"cant-pay-debts","status":"publish","type":"post","link":"https:\/\/legalvision.co.nz\/disputes-and-litigation\/cant-pay-debts\/","title":{"rendered":"What Are My Options if My Business Cannot Pay Its Debts?"},"content":{"rendered":"\n<p><span style=\"font-weight: 400\">If your New Zealand business cannot pay its debts or owes more money than it currently owns, you may h<\/span>ave<span style=\"font-weight: 400\"> to close down. However, there are other options available. These options will depend on what kind of business structure your business operates in. This article will outline the options available for a:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">sole trader structure;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">partnership model; and\u00a0<\/span><\/li>\n\n\n\n<li><a href=\"https:\/\/legalvision.co.nz\/business-structures\/limited-liability\"><span style=\"font-weight: 400\">limited liability company<\/span><\/a><span style=\"font-weight: 400\">, or company, structure.<\/span><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Sole Trader Debt<\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400\">A <\/span><a href=\"https:\/\/legalvision.co.nz\/business-structures\/company-or-sole-trader\"><span style=\"font-weight: 400\">sole trader business structure<\/span><\/a><span style=\"font-weight: 400\"> is when you, as an individual, run your own business.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400\">Under a sole trader model, you are personally responsible for all of your business&#8217; debts. If you cannot afford to pay these debts, you must consider your personal insolvency options. To be insolvent means that you have:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">debts that cannot be paid when they are due; or<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">a total debt greater than the value of your assets.<\/span><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Debt Repayment Order<\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400\">A Debt Repayment Order (DRO) is a formal debt repayment plan you enter into with the individuals or businesses you owe money to. These individuals or businesses are known as your creditors. After you apply for a DRO, you will sign up with a supervisor who will work with you, a government official (the Official Assignee) and your creditors to arrange how this payment plan works.<\/span><\/p>\n\n\n\n<p>Under the DRO, you will have more time than you otherwise would have to pay some or all of the debts you owe your creditors. A DRO will usually be for three years.<\/p>\n\n\n\n<p><span style=\"font-weight: 400\">A DRO is the preferred personal insolvency option if;<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">you owe less than $50,000 to your creditors;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">this debt is unsecured; and <\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">you are still able to make some repayments on your debts.<\/span><\/li>\n<\/ul>\n\n\n\n<div  class=\"box box--icon box--info\">\n    <p>A debt will be unsecured if a specific asset does not back it. A secured debt is backed by an asset or \u2018collateral\u2019. For example, a car loan is a secured debt, as the collateral is the car itself. If an individual fails to make a payment for their loan, the lender can seize their car.<\/p>\n<\/div>\n\n\n\n\n<a href=\"#content-next\"\n   class=\"block p-4 mt-10 text-xl font-bold text-center text-white no-underline bg-gray-800 rounded-t-xl\">\n    Continue reading this article below the form\n    <i class=\"text-xl fa-regular fa-arrow-down\"><\/i>\n<\/a>\n<div class=\"px-6 pt-10 pb-12 mb-10 text-center bg-gray-100 rounded-b-xl sm:px-12 test\">\n    <div class=\"mb-8 text-2xl font-bold text-orange\">\n        Need legal advice?\n        <br>\n        <span class=\"text-lg not-prose\">\n                            Call <a href=\"tel:+64800005570\" class=\"not-prose\">0800 005 570<\/a> for urgent assistance.\n                <br>\n                Otherwise, complete this form, and we will contact you within one business day.\n                    <\/span>\n    <\/div>\n\n    \n\n<div class=\"not-prose flex justify-center text-left gform_input_bg_white    \">\n    <script>\nvar 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A NAP is the preferred personal insolvency option if:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">you owe less than $50,000 to your creditors;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">this debt does not include student loans, court fines or reparations;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">you have no assets. Under a NAP, you<\/span> can <span style=\"font-weight: 400\">keep certain assets, such as tools that are necessary for your work and a vehicle up to the value of $6,500;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">you have not completed a NAP before; and<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">you have no extra money to repay your creditors. <\/span>Here, y<span style=\"font-weight: 400\">ou are entitled to have a maximum of $1,300.\u00a0<\/span><\/li>\n<\/ul>\n\n\n\n<p><span style=\"font-weight: 400\">You should be wary of entering into a NAP as this will have a long-term effect on your credit report and could impact your employment prospects.<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Bankruptcy<\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400\">If you enter into bankruptcy, the Official Assignee (a government official who is a part of the New Zealand Insolvency and Trustee service) is entitled to take control over everything you own and sell it to pay off <\/span>your debts. This excludes certain property, such as your clothing and <span style=\"font-weight: 400\">household appliances.\u00a0<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400\">Bankruptcy is the only available personal insolvency option if:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">you owe more than $50,000; or<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">you have had a NAP before.<\/span><\/li>\n<\/ul>\n\n\n\n<p><span style=\"font-weight: 400\">Ultimately, the most well-suited option for you will depend on:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">the amount of debt owed to your creditors;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">what these debts are;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">the overall value of any assets you have; and<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">whether you have used any of these insolvency options before.<\/span><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Partnership Debt<\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400\">Your business <\/span><a href=\"https:\/\/legalvision.co.nz\/business-structures\/choosing-structure-new-zealand-business-sole-trader-partnership-or-company\"><span style=\"font-weight: 400\">will be a partnership<\/span><\/a><span style=\"font-weight: 400\"> if it is run by two or more individuals. If this is the case, you, alongside your partners, are equally responsible for the debts of your business.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400\">If one of the partners cannot pay these debts, the responsibility for the amount owed will shift onto the remaining partners. <\/span>Each partner may be held fully responsible for all partnership debts, regardless of their ownership percentage or involvement in incurring the debt. Partnerships are not separate legal entities from the partners, like sole traders. This lack of separation means that if the partnership cannot pay its debts, you and the partners must consider one of the above personal insolvency options.<\/p>\n\n\n\n<div  class=\"box box--icon box--star\">\n    <p>In limited partnership structures, the partnership is a separate legal entity, which limits the liability of the partners to their capital contribution.<\/p>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Company Debt<\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400\">If your business is a registered company, the company itself is responsible for the debts owed. There is a range of options available for company debt.&nbsp;<\/span><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Liquidation<\/span><\/h3>\n\n\n\n<p><span style=\"font-weight: 400\">If your company cannot pay off its debts, it can be <a href=\"https:\/\/legalvision.co.nz\/disputes-and-litigation\/what-is-the-difference-between-receivership-and-liquidation-in-new-zealand\/\">placed into liquidation<\/a>. The company may voluntarily choose to go into liquidation or be placed into liquidation by the shareholders or by a court order.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400\">Once in liquidation, a qualified and independent liquidator (usually a specialist accountancy firm) will be appointed. It is the job of the liquidator to:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">investigate the company and its financial affairs;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">determine why the company failed; and\u00a0<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">identify any potential offences that were committed.<\/span><\/li>\n<\/ul>\n\n\n\n<p><span style=\"font-weight: 400\">After this is completed, the liquidator will take control of, freeze and sell any of the company\u2019s unsecured assets to help repay the debt owed to the creditors. The liquidator may also have to repay unpaid shareholders or employees of the company.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400\">At the end of this process, the liquidator will prepare a report on the activities and outcome of the liquidation. Once the liquidation is complete, your business will be removed from the Companies Register.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Receivership<\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400\">If your company cannot pay the debts that it owes to a secured creditor, it may have to go into receivership.\u00a0<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400\">A secured creditor is an individual who<\/span> has loaned you money on the basis that the loan is backed by an asset or \u2018collateral\u2019. The creditor has a right to repossess and sell this asset, such as a house or car,<span style=\"font-weight: 400\"> if you fail to provide the debt repayments. This is the process of receivership. The creditor will appoint an individual, the receiver, to collect and sell the asset or assets to repay the debt. You can think of the receiver as a debt collector on behalf of the secured creditor.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400\">Your business will no longer be in receivership once this debt has been repaid and the receiver has notified the Companies Register.<\/span><\/p>\n\n\n    <div class=\"my-7 lg:my-10 border-y-2 border-gray-100 py-7 lg:py-10 flex flex-col sm:flex-row items-start gap-10\">\n                    <img decoding=\"async\" class=\"w-52 mx-auto my-0! rounded\" src=\"https:\/\/img.legalvision.com.au\/wp-content\/uploads\/sites\/2\/2021\/10\/28131832\/how-to-sell-your-business-guide-_-560x792-1-e1635392481928.png\" alt=\"Front page of publication\"\n                 loading=\"lazy\" width=\"208\" height=\"298\">\n                <section>\n            <div class=\"text-2xl font-bold\">How to Sell Your Business in New Zealand<\/div>\n            <div class=\"body-text\">\n                <p>Looking to sell your business? This free guide will help you to understand the moving parts that impact a successful sale. <\/p>\n            <\/div>\n            \n\n<a href=\"https:\/\/go.legalvision.co.nz\/guide-to-selling-your-nz-business.html\" class=\" block px-5 py-3.5 max-w-fit bg-orange button__hover transition rounded text-white font-bold text-lg no-underline uppercase leading-tight text-center\" target=\"\" rel=\"\">Download Now<\/a>        <\/section>\n    <\/div>\n\n\n\n\n<h2 class=\"wp-block-heading\">Voluntary Administration&nbsp;<\/h2>\n\n\n\n<p>Voluntary administration allows a company facing insolvency to restructure and potentially continue operating.&nbsp; If your directors choose to enter voluntary administration, an independent and qualified administrator is appointed to review and restructure your company. The administrator will investigate the company\u2019s financial position and determine whether it can be saved or if liquidation is necessary.&nbsp;<\/p>\n\n\n\n<p>During this period, which typically lasts 20-30 working days, a restriction is placed on creditor claims, giving your company breathing space to assess options. The administrator will work with your company\u2019s directors, creditors, and other stakeholders. They may:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>return your company to you; <\/li>\n\n\n\n<li>place it in liquidation; or <\/li>\n\n\n\n<li>enter a deed of company arrangement (DOCA). <\/li>\n<\/ul>\n\n\n\n<p>A DOCA will outline a plan for the company\u2019s future, including restructuring debt, selling non-core assets or implementing operational changes. Your creditors will also have a say in deciding your company&#8217;s future.<\/p>\n\n\n\n<div  class=\"box box--icon box--idea\">\n    <p>Voluntary administration may be beneficial as it may allow your business to continue operating, preserve jobs and result in better outcomes for creditors than immediate liquidation. However, it is important to note that not all companies are suitable for voluntary administration, and the process can be complex and costly.<\/p>\n<\/div>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Personal Guarantee<\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400\">If you, as the company director, have made a personal guarantee for the company\u2019s debts, you will be responsible for repaying them. If you cannot do so, you must consider one of the above personal insolvency options.<\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400\">Before engaging in these options, you should first:<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span style=\"font-weight: 400\">evaluate the total debt that the company owes;<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">determine whether any secured creditors are owed; and<\/span><\/li>\n\n\n\n<li><span style=\"font-weight: 400\">get advice from a professional, such as an accountant, lawyer or budgeting advisor.<\/span><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span style=\"font-weight: 400\">Key Takeaways<\/span><\/h2>\n\n\n\n<p><span style=\"font-weight: 400\">Being unable to repay debts is an extremely difficult position for a business to be in. However, this does not mean that your business has to close down. There are other ways to repay your creditors. What option you choose will depend on whether your business operates under a sole trader, partnership or company model. Depending on the structure, you will either have to consider personal insolvency options or put your company in liquidation or receivership. <\/span><\/p>\n\n\n\n<p><span style=\"font-weight: 400\">If you have <\/span>a large business debt, our experienced\u00a0<a href=\"https:\/\/legalvision.co.nz\/dispute-lawyers-lp\">disputes and litigation lawyers<\/a>\u00a0can assist as part of our LegalVision membership. For a low monthly fee, you will have unlimited access to lawyers to answer your questions and draft and review your documents. Call us today on\u00a0<a href=\"tel:+64800447119\">0800 447 119<\/a>\u00a0or visit our\u00a0<a href=\"https:\/\/legalvision.co.nz\/membership\/\">membership page<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Frequently Asked Questions<\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1606880271477\"><strong class=\"schema-faq-question\"><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong><strong>What can you do if you cannot afford your debt?<\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong><\/strong> <p class=\"schema-faq-answer\">If you cannot afford your debts, you will have to consider your personal insolvency options. These options are a Debt Repayment Order, a No-Asset Procedure or bankruptcy.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1606989773267\"><strong class=\"schema-faq-question\"><strong>Who is responsible for a business\u2019 debt?<\/strong><\/strong> <p class=\"schema-faq-answer\">Who is responsible for a business\u2019s debt will depend on the business structure. If the business operates under a sole trader model, that individual will be responsible. If the business is a partnership, the partners will be responsible. Alternatively, if the business is registered as a company, the company itself will be responsible for the debt.\u00a0<\/p> <\/div> <\/div>\n\n\n\n\n","protected":false},"excerpt":{"rendered":"<p>If your New Zealand business cannot pay its debts or owes more money than it currently owns, you may have to close down. However, there are other options available. These options will depend on what kind of business structure your business operates in. This article will outline the options available for a: Sole Trader Debt<a href=\"https:\/\/legalvision.co.nz\/disputes-and-litigation\/cant-pay-debts\/\">Continue reading <span class=\"sr-only\">&#8220;What Are My Options if My Business Cannot Pay Its Debts?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":13518,"featured_media":808,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","editor_notices":[],"footnotes":""},"categories":[9],"tags":[24,25,54,62,232,331,332,333],"class_list":["post-1905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-disputes-and-litigation","tag-startup","tag-small-business","tag-medium-business","tag-business-structure","tag-restructuring","tag-insolvency","tag-debts","tag-business-debts"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>My New Zealand Business Can\u2019t Pay Its Debts | LegalVision<\/title>\n<meta name=\"description\" content=\"Is your New Zealand business unable to pay its debts? If so, this article will discuss your options depending on your business structure.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/legalvision.co.nz\/disputes-and-litigation\/cant-pay-debts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"My New Zealand Business Can\u2019t Pay Its Debts | LegalVision\" \/>\n<meta property=\"og:description\" content=\"Is your New Zealand business unable to pay its debts? If so, this article will discuss your options depending on your business structure.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/legalvision.co.nz\/disputes-and-litigation\/cant-pay-debts\/\" \/>\n<meta property=\"og:site_name\" content=\"LegalVision New Zealand\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/LegalVision\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-22T02:22:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-09T23:18:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/legalvision.co.nz\/wp-content\/uploads\/sites\/2\/2020\/12\/Death_to_Stock_A_New_Way_Of_Work_5.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1333\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Natalie Casey-wyness\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@LegalVision_law\" \/>\n<meta name=\"twitter:site\" content=\"@LegalVision_law\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Natalie Casey-wyness\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/legalvision.co.nz\/disputes-and-litigation\/cant-pay-debts\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/legalvision.co.nz\/disputes-and-litigation\/cant-pay-debts\/\"},\"author\":{\"name\":\"Natalie Casey-wyness\",\"@id\":\"https:\/\/legalvision.co.nz\/#\/schema\/person\/d5feb46f79dfb2915413528a527da0dc\"},\"headline\":\"What Are My Options if My Business Cannot Pay Its Debts?\",\"datePublished\":\"2020-12-22T02:22:05+00:00\",\"dateModified\":\"2024-12-09T23:18:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/legalvision.co.nz\/disputes-and-litigation\/cant-pay-debts\/\"},\"wordCount\":1428,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/legalvision.co.nz\/#organization\"},\"image\":{\"@id\":\"https:\/\/legalvision.co.nz\/disputes-and-litigation\/cant-pay-debts\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/legalvision.co.nz\/wp-content\/uploads\/sites\/2\/2020\/12\/Death_to_Stock_A_New_Way_Of_Work_5.jpg\",\"keywords\":[\"startup\",\"small business\",\"medium business\",\"business structure\",\"restructuring\",\"insolvency\",\"debts\",\"business debts\"],\"articleSection\":[\"Disputes and Litigation Articles\"],\"inLanguage\":\"en-NZ\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/legalvision.co.nz\/disputes-and-litigation\/cant-pay-debts\/#respond\"]}]},{\"@type\":[\"WebPage\",\"FAQPage\"],\"@id\":\"https:\/\/legalvision.co.nz\/disputes-and-litigation\/cant-pay-debts\/\",\"url\":\"https:\/\/legalvision.co.nz\/disputes-and-litigation\/cant-pay-debts\/\",\"name\":\"My New Zealand Business Can\u2019t Pay Its Debts | LegalVision\",\"isPartOf\":{\"@id\":\"https:\/\/legalvision.co.nz\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/legalvision.co.nz\/disputes-and-litigation\/cant-pay-debts\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/legalvision.co.nz\/disputes-and-litigation\/cant-pay-debts\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/legalvision.co.nz\/wp-content\/uploads\/sites\/2\/2020\/12\/Death_to_Stock_A_New_Way_Of_Work_5.jpg\",\"datePublished\":\"2020-12-22T02:22:05+00:00\",\"dateModified\":\"2024-12-09T23:18:52+00:00\",\"description\":\"Is your New Zealand business unable to pay its debts? 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