Brent Norling

Yeah.

And then once that runs its course and someone makes a decision, we need to enforce this, the first thing they'll do for a company is issue a statutory demand.

That gives 15 working days to pay.

And if the taxpayer doesn't pay, then the IRD will always then issue liquidation proceedings.

So it's the step prior to liquidation.

Once liquidation proceedings are filed, and that's at the high court level,

So the taxpayer has 10 working days to liquidate themselves if that's what they want to do, or that option is removed.

And so the earlier people engage, the more options there are.

So, you know, like for example, it's much easier to negotiate with the IID in the early stages because if we have to negotiate and we're dealing with statutory timelines and having to go to court and get adjournments,

The risk goes up and cost goes up as well because now you've got a lawyer in court.

And there's not very good communication between the case officers and the lawyers for the IRD.

So often the lawyers who are standing up have a long list of files that they're working through and their kind of go-to is we need to liquidate.

So if you've agreed to an adjournment, it might not actually be communicated to the lawyer.

So there's just all these kind of little niggles that

I mean, the earlier people engage the better, um, but also there's more options.

So, um, yes, you can negotiate, but also, um, if it's a, you know, if it's a, if it's a $1 million debt and there is, you know, five grand of assets, um,

you know, it might be worth actually just restructuring, liquidating the entity and starting again.

I always add to that because people look at that and I get the outrage where people look at that kind of liquidate and restart as just we should stop it.

In certain cases we should where it's repetitive type conduct.

But there's also some real upsides to doing that because, um, if they were to just liquidate and walk away, a lot of these businesses have employees.