On 11 October 2013, the Trans-Tasman Proceedings regime will come into effect. The Trans-Tasman Proceedings Act 2010 aims to streamline the process for resolving Trans-Tasman civil proceedings, with the intention of reducing costs and improving efficiency in enforcing Australian judgments in New Zealand.
On 2 September 2013, in preparation for the introduction of the regime, the government made a Trans-Tasman Proceedings Act order that excludes the recognition and enforcement of certain Australian insolvency judgments in New Zealand. Such judgments are to be excluded because their recognition and enforcement is governed by the Insolvency (Cross-Border) Act 2006, which adopted the UNCITRAL Model Law on Cross-Border Insolvency.
The order excludes the recognition and enforcement of judgments given under Australian domestic insolvency laws that either:
- Commence an insolvency proceeding in Australia and appoint a representative to act in that proceeding, or
- Recognise an insolvency proceeding outside of Australia or recognise the appointment of a representative to act in an insolvency proceeding outside Australia.
The order also excludes the recognition or enforcement of any judgment that wholly or partly relates to assistance or relief granted in Australia under the Cross-Border Insolvency Act 2008 (Aus) during the following periods:
- From the time of filing an application for recognition of an insolvency proceeding outside Australia until the application is decided upon, and/or
- Upon or after recognition of an insolvency proceeding outside of Australia.
See the order here.