More than 140 people have signed up for the government’s new insolvency scheme, wiping nearly $1 million in debt and giving struggling consumers a once-in-a-lifetime chance to start afresh.

The biggest change to New Zealand insolvency law in at least 20 years came into force last Thursday, giving creditors wider-reaching powers, which should give them better returns while also saving businesses and jobs. 

The Employment Relations Act 2000 required for the first time that an individual employment agreement must be in writing. Every employee will be covered by an employment agreement — either individual or collective. 

NZPA – Dominion Post – 17 August 2007

THE Commerce Commission is to prosecute a South Auckland credit provider that targets Pacific Islanders, and has warned six others, for allegedly failing to provide important information to customers taking out personal loans.