The Legal 500

Bell Gully has a multidisciplinary practice drawing on its litigation, corporate and financial services capabilities. The firm has seen significant instructions across large corporate restructurings, claims against directors and auditors, and property receiverships. Highlights included the debt and corporate restructuring of Yellow Pages Group, a NZ$130m claim against Nathans Finance NZ, and a NZ$600m claim against Bridgecorp Limited in a separate matter on behalf of PwC as receivers.

Buddle Findlay’s restructuring and insolvency practice benefits from the firm’s strong connections in the banking and professional services market. It advised the trustee in respect of the NZ$1.7bn South Canterbury Finance Limited insolvency, and acted for Ferrier Hodgson as administrators in respect of Whitcoulls/Borders Group in New Zealand’s first significant voluntary administration, which also involved cross-border creditor pools. Scott Abel was promoted to partner.

Chapman Tripp’s national restructuring and insolvency group is acting for ANZ National Bank in its refinancing of dairy firm Synlait Milk, following an equity investment by one of China’s largest dairy companies. Michael Anderson leads the firm’s work for McGrathNicol, advising on all aspects of the South Canterbury Finance receivership. Other key clients include PwC, ASB Bank, BDO Christchurch/Auckland, KordaMentha and KPMG.

Minter Ellison Rudd Watts is ‘extremely good all round’, with Sean Gollin noted as ‘extremely thorough and proven in insolvency litigation’. The firm enjoys a close relationship with KordaMentha, and is involved in significant receiverships such as Crafar Farms, the Kawarau Falls Station development, and Grasshopper Farms Limited. Other active key clients include McGrathNicol, Grant Thornton, BDO, Westpac and Rabobank. The firm picked up a panel appointment with HSBC. Stacey Shortall joined the firm from Paul, Weiss, Rifkind, Wharton & Garrison LLP in New York.

Simpson Grierson’s lawyers are ‘extremely professional, providing very high levels of service’; ‘the quality of their work means they provide very good value for money’. The firm is at the forefront of insolvency litigation, and has experience in high-value matters in the agricultural and finance sectors. It enjoys panel memberships with Westpac and ASB Bank, and was recently appointed to the Ministry of Economic Development panel for specialist advice on technical policy issues in relation to the securities law review. James Caird was promoted to partner.

The ‘dedicated’ team at DLA Phillips Fox continues to advise Deloitte, as receivers of the Dominion Finance Group Limited, in one of the largest and most complex receiverships in the country. Clients include ANZ National Bank, McGrath Nicol and Corporate Finance Limited. Martin Wiseman is recommended, and Reuben Woods was recently promoted to partner.

Kensington Swan is ‘responsive and commercial with the advice it provides, exceeding expectations’; ‘the overall level of service is excellent’. Significant clients include the Bank of Western Australia; trade creditors in the voluntary administration of Whitcoulls/Borders; HSBC; and Ngati Tama Custodian Trustee Limited. Dan Hughes is noted for his ability to provide commercial solutions in insolvency disputes.

Lowndes Associates’ Mike Whale is an ‘old legend’ in the area of restructuring and insolvency. The boutique firm recently acted for property developers, structuring and advising on insolvency proposals to creditors in claims ranging from NZ$3m to NZ$60m, and advised on and structured a claim against directors for insolvent trading where the creditor shortfall exceeded NZ$50m.

In addition to its involvement in aspects of the Whitcoulls/Borders and Yellow Pages Group administrations, Russell McVeagh is acting for Allan and Jean Hubbard in an unusual and complex statutory management case, and for PwC on the NZ$500m OPI Pacific Finance Limited receivership. Other active clients include Kordamentha, KPMG and Ferrier Hodgson (Australia).