Brent Norling

So they're making up about 70% of high court liquidations right now.

And it's the highest liquidation numbers in 15 years.

It's the highest since the GFC.

Wow.

Yeah, there's a few considerations for employees.

I mean, I had someone recently who left a stable employment position

Moved to a company.

They headhunted her.

And then six weeks later, that company went into liquidation.

And she's sitting there going, what the hell?

I moved from a job into this job.

And she had a family and things to sort.

So I think from an employment perspective, I don't know how you actually tackle that because no business is going to open their books for an incoming employee.

But the other consideration is around PAYE.

So if your employer doesn't pay your PAYE, that can have impacts downstream for you.

The IID actually has the ability to hold employees liable for that.

I don't see them doing it, and there's probably some really good reasons why they don't, because they weren't responsible for the non-payment.

But, you know, also things like KiwiSaver.

I mean, if they see it on their payslips as being deducted, I have seen countless cases where KiwiSaver is being deducted and not paid.

You know, one, probably one of the worst that I saw, that's probably a few years ago now, but the business had received 250 demand letters from the IRD.