RITANZ is a stand-alone incorporated society which was launched at the start of 2015. It operates as the professional membership body for insolvency practitioners and for those working in the field of business restructuring and turnaround, and corporate and personal insolvency in New Zealand.
RITANZ has been approved as a "recognised body" which provides its members with an avenue to apply for licensing through the accredited body, despite not being a member of that accredited body.
A recognised body has no regulatory functions under the Act.
RITANZ was effectively formed out of its predecessor INSOL New Zealand which had been operating since the early 1980's. RITANZ remains affiliated with INSOL International, a worldwide federation of national associations for accountants and lawyers who specialise in turnaround and insolvency, and actively supports the objectives of INSOL International. RITANZ also has a seat on the INSOL Board.
RITANZ has branches in Auckland, Christchurch and Wellington, and is run by an elected Board of volunteers, who work in or alongside the profession. Members of the organisation are made up of academics; judges; bankers; Government; Chartered Accountants and lawyers that operate in this profession.
RITANZ is involved in making submissions on insolvency law reform to Government on a regular basis, and convenes regular meetings of members to discuss topical issues in restructuring, insolvency and turnaround law and practice. A national conference, held annually and supported by a high calibre overseas speaker faculty, is one of the main events on the RITANZ calendar.
