In 2006, New Zealand adopted far-reaching insolvency reform. Parliament passed three new Acts to provide for a more modern regime to deal with bankruptcy, liquidation and their alternatives.

Insolvency Act 2006;

Companies Amendment Act 2006;

Insolvency (Cross-border) Act 2006.

The first edition of this work, published in 2007, provided commentary on the changes to the law. Highlights from the first edition included the new corporate rescue regime (voluntary administration), the new voidable transactions provisions and, in personal insolvency, the No Asset Procedure, a new alternative to bankruptcy found in the Insolvency Act 2006. The first edition also considered the impact of the Insolvency (Cross-border) Act 2006.

Since publication of the first edition there have been important amendments that affect the substantive law.