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Chris The Lawyer
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 22983
Experience:  38 years qualified as a lawyer; LLB, MMgt and FAMINZ.
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My old company has been liquated by the IRD and I received

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My old company has been liquated by the IRD and I received an email from the Insolvency Officer regarding the stock but I am not sure what it means and the will not put it in simple language that I can understand. The following is the message and I would appreciate you view on what it implies:

The Official Assignee renounced any interest in the company inventory.
The Official Assignee’s interest in the inventory was disclaimed under section 269 of the Companies Act 1993.
A disclaimer under this section brings to an end on and from the date of the disclaimer the rights, interest and liabilities of the company in relation to the property (i.e. the inventory).

Regards, Richard

christhelawyer : HiWelcome to JustAnswer. My first response will follow shortly. Please feel free to follow up if anything is not clear
christhelawyer : When the Official Assignee says they disclaim an interest, this is the opposite of claiming an interest. So if they wanted to claim the stock, which is your inventory, they would ask you to deliver this to them. However they do not want to claim the stock, hence they disclaim any interest. It means they do not want the stock, and you can deal with it as you want.

Thank you for clarifying that for me. I thought that was the case but whenasking the Insolvency officer if that is what it meant she just told me to get legal advice! Not very helpful.


So thanks again.

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