Geoff Falloon Director
• Geoff has been a chartered accountant for 27 years with
experience in commercial, auditing, taxation and insolvency
areas;
• Member of NZ Institute of Chartered Accountants, with
current certificate of public practice. This, the premier
accountancy professional body in NZ, reviews and audits
its members on a regular basis;
• Nine years' experience in the insolvency field (in past
two years 11 liquidations administered, as well as creditor
compromise and voluntary administration experience);
• Proven record of integrity and trustworthiness; and
• Nelson based with local knowledge of the top of the south.
Sometimes all a struggling company needs is some
fresh ideas and fine tuning.
Biz Rescue offers low cost assessments which involve:
• meeting with managers and staff;
• a comprehensive review of the main facets of the business;
• a review of financial information;
• identification of weaknesses and opportunities; and
• a brief report including recommendations.
Further assistance can be negotiated.
A company is "insolvent" when it is unable to pay its debts
as they fall due, or when liabilities exceed assets.
Insolvency doesn't necessarily spell the end of the company.
The processes outlined in the Companies Act to save
a company include:
• Creditor Compromises & Schemes of Arrangement
Biz Rescue has experience with obtaining such agreements
with creditors to enable companies to trade out of difficulty.
• Voluntary Administration
Fairly new to NZ, this allows for agreements with creditors
in a robust, formal framework.
Again, Biz Rescue has experience in this area.
Ending a Company
When there is little likelihood a company will be able to trade
out of its difficulties the only option is liquidation.
In the past 2 years Geoff has administered 11 liquidations.
• Building companies
• Retail shops
• Vessel charter firm
• Scientific testing company
• Restaurants
• Theatre company
