The Legal 500 > Asia Pacific > New Zealand > Restructuring and insolvency

Buddle Findlay has one of New Zealand’s pre-eminent insolvency and restructuring teams and counts Bank of New Zealand, ANZ Bank New Zealand, KordaMentha and PwC among its clients. David Perry, who is former board member of INSOL International and past-Chairman of Restructuring Insolvency & Turnaround Association of New Zealand, leads the practice from Auckland, where Scott Abel is a leading light. They frequently advise domestic and foreign banks, insolvency professionals and other organisations on receiverships, liquidations and workouts. Special counsel Myles O’Brien  is a rising star who acts for one of New Zealand's largest banks in recovery and enforcement actions. In Wellington, Scott Barker is a leading litigation, insolvency and credit recovery specialist who recently acted for the Reserve Bank of New Zealand in the high-profile CBL Insurance matter.

Chapman Tripp has one of the most prominent restructuring and insolvency practice in New Zealand and has an outstanding track record in debt restructuring and distressed debt, voluntary administration, and the design and implementation of schemes and compromises. It acts for all of the country's leading insolvency practitioners including KordaMentha and PwC, as well as leading banks such as Bank of New Zealand, ANZ Bank and Westpac. Litigator Michael Arthur and restructuring and insolvency specialist Michael Harper in Auckland are the practice heads. Senior associate Janko Marcetic has substantial experience in acting for company directors facing claims for alleged breaches of duty and regulatory charges. Wellington partner Daniel Kalderimis is an experienced advisor and advocate in large commercial disputes and leads Chapman Tripp’s international law practice.

MinterEllisonRuddWatts handles some of the largest and most complex restructurings and insolvencies in New Zealand, including contentious matters, and in 2018 this included acting for the liquidators in their successful reckless trading claim against the directors of Mainzeal. The firm is on the panel of the four main New Zealand banks for restructuring and insolvency, as well many other financial institutions, and receives instructions from insolvency practitioners including KordaMentha, PwC and McGrathNicol. Litigator Sean Gollin and insolvency specialist Michael Langdon in Auckland are the lead partners, though Mark Sandelin and Wellington-based RITANZ board member Richard Gordon also play key roles in the practice. Partner Mihai Pascariu in Auckland is also closely involved in Mainzeal matter.

Russell McVeagh is 'a large firm that  provides the ability to tap into partners with knowledge of specific legal areas'. Its multi-disciplinary practice handles the full range of matters including formal domestic and cross-border insolvency processes, the enforcement of secured and unsecured creditor rights, corporate and debt restructuring and workouts, and secondary debt trading and investment. 'Superb lawyer' Matthew Kersey is the lead partner in Auckland. Polly Pope is recommended by peers and clients alike for her work in contentious insolvency and restructuring, as well as her complementary expertise in construction, infrastructure, financial and regulatory disputes. Kersey and Pope acted for the voluntary administrators of insurer CBL. Partner John Powell is recommended for his work on debt restructuring, workouts and formal insolvency.

Anthony Harper has a cross-functional, multi-disciplinary and integrated team that works closely with the litigation, banking and finance practices to handle refinancing, restructuring, administration, liquidation and disputes. 'The team takes a holistic approach to all issues' remarks one client who praises the firm's 'fast responses and focus on outcomes and solutions that resolve matters quickly'. Crispin Vinnell in Christchurch leads the practice and he has more than 20 years' experience advising banks, finance companies, chartered accountants, insolvency practitioners, receivers, liquidators, administrators and the Official Assignee on all facets of insolvency and recovery. Dan Hughes in Auckland leads the firm's litigation practice and frequently handles high-profile insolvency disputes. Special counsel Lynne Van and senior associate Chloe Jolliffe are also recommended.

Bell Gully in Auckland has a busy practice that acts for leading banks such as ANZ, ASB and Bank of New Zealand, as well as accounting firms and receivers including PwC, Grant Thornton and BDO. Practice head David McPherson and litigation partner David Friar are currently acting for KordaMentha as administrators of ten New Zealand-registered companies in the CBL Group, including the parent company, in regard to aspects of the country's most high-profile insolvency. Litigation partner Tim Fitzgerald advises lenders and insolvency practitioners on claims against debtors, directors, auditors and insurers. Rising star senior associate Nick Moffatt, who is involved in the CBL matter, is a key advisor to PwC in insolvency matters.

DLA Piper New Zealand in Auckland has a multi-disciplinary restructuring and insolvency group that has a long track record of acting for insolvency practitioners and is frequently involved in cross-border matters with other offices in the firm's global network. It also handles corporate restructuring for the large business that constitute its client base, and it is currently acting for the liquidators in the most high-profile insolvency case in the market, that of CBL Insurance. RITANZ members Michael Thompson and Alicia Murray are the lead partners in a practice that brings together the firm's corporate, finance and litigation specialists. Head of litigation Iain Thain plays a key role in the practice.

Lowndes in Auckland climbs the ranking thanks to the high regard in which its two key partners are held and the firm's role in some of the most high-profile matters in the market. Practice head Mike Whale is lauded as ‘the godfather of the insolvency industry, he knows everything back to the Magna Carta'. Michael Anderson is vastly experienced and acts for receivers in high-value matters. The firm is advising major creditors in the biggest insolvency case in the market, that of CBL Insurance, and frequently acts for specialist insolvency practitioners and financial services institutions. Principal Jennifer Tunna is a banking and finance specialist with a strong insolvency practice. Jacque Lethbridge moved to Martelli McKegg Wells & Cormack.

Mayne Wetherell in Auckland is a specialist corporate, finance and restructuring firm that has built up an impressive track record. Since the global financial crisis, the firm has led or played a central role in all of the major restructuring transactions in New Zealand. Rather than focusing on a high volume of matters, it concentrates on the high-value and complex matters that are of strategic importance to its bank or corporate clients. Among those clients are Bank of New Zealand, Westpac New Zealand Limited, PricewaterhouseCoopers, Goldman Sachs and Windsor Engineering Group. Will Tipping is the lead partner for restructuring and insolvency matters, and he has a particular focus on acquisition financing and special situations.

The restructuring and insolvency practice at Dentons Kensington Swan is focused on serving banks and insolvency practitioners. Among these are ANZ Bank, BDO, BWA and Deloitte. The firm provides provide specialist legal advice to creditors and insolvency practitioners in relation to financial risk management, receiverships, administrations and liquidations. A unique facet of the practice is its close collaboration with its construction and major projects lawyers to assist with debt recovery and enforcement work, priority disputes and voidable transactions. Practice head and RITANZ member James McMillan and senior associate Mark Broad are the key practitioners, and each has 16 years' experience in commercial litigation.