Insolvency numbers plummet but there are still warning signs, expert cautions 31 Jan, 2021 04:00 PM 5 minutes to read There are warning signs that some businesses will come under more financial pressure this year. Photo/ File Court applications to wind up companies plummeted in 2020, bucking expectations of widespread business failures. But an insolvency expert says there are still warning signs that some companies are in for a tough time this year. Read More Wind-up applications dropped nearly 32 per cent from 707 to 481 between 2019 and 2020, figures from the Restructuring Insolvency and Turnaround Association New Zealand show. Liquidation appointments, which includes both solvent and non-solvent ones was also down while receivership appointments rose only slightly from 105 to 115.