MEDIACOM-RELEASE-NZ-COMPANIES-OFFICE
The Companies Office announced today that its list of persons who have been banned from running companies is now
accessible on the Internet.
The database, which can be searched for free at www.companies.govt.nz contains a list of those people who have been
banned either as a result of mismanaging companies or arising from bankruptcy.
National Manager, Adam Feeley said: "People doing business with others need to know their risks, and having a database
of these people is one way the Companies Office can help minimise that risk."
He said one of the common problems the Companies Office faces is investors and creditors continuing to do business with
people whose track records mark them as a commercial hazard.
"You probably wouldn't lend your car to a person with a history of speeding and drunk-driving - and this database is
the corporate equivalent in terms of enabling you to make an informed decision about whether to lend your investment
dollar to someone with a bad commercial track record."
The database is one of a number available from the Companies Office Internet site, which includes the facility to also
search any persons company directorships, the record of those companies, as well as the list of past and current
bankrupts.
"They all add up to a valuable tool for commercial decision making," Mr Feeley said.
ENDS.... MEDIA RELEASE FROM THE NEW ZEALAND COMPANIES OFFICE