COVID-19 Raising equity capital
One thing that is more certain in the current environment is the likely need for a number of NZX listed issuers to consider raising equity in the short to medium term. For our full COVID-19 coverage, follow this URL: https://www.bellgully.com/publications/covid-19-updates
COVID-19 The Commerce Commission issues guidance to lenders
Among the many industries facing pressure as a result of the current lockdown, consumer lenders face particular challenges in assessing the affordability of new or altered lending under the Credit Contracts and Consumer Finance Act 2003 (CCCFA) for borrowers who may have already suffered material changes to their income or anticipated future income as a …
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Court rules on status of cryptocurrencies
For as long as cryptocurrencies have been around, lawyers have pondered over the existential question of what exactly they are. That question may arise in a number of different contexts — e.g., in a public offering of cryptocurrencies, in the taxation of cryptocurrency transactions, or in the insolvency of a cryptocurrency exchange. That last example …
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COVID-19 Tax relief measures, new and old
The COVID-19 crisis has put significant financial stress on many New Zealand businesses. For many, tax is only one of the liabilities fighting for attention among others in these uncertain times. It has also been a difficult time for internal tax functions with the Alert Level 4 lockdown coinciding with tax year end and considerable …
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Important NZ ETS compliance deadline 31 March 2020
We appreciate businesses are likely focused on responding to pressing issues resulting from COVID-19. However, some of those businesses also have a looming NZ ETS compliance deadline of 31 March 2020 – this coming Tuesday. For our full COVID-19 coverage, follow this URL: https://www.bellgully.com/publications/covid-19-updates
The impact of COVID-19 on construction projects
As with the rest of the economy, the construction sector is currently facing a range of uncertain implications arising from the COVID-19 pandemic. For our full COVID-19 coverage, follow this URL: https://www.bellgully.com/publications/covid-19-updates
Options for construction projects during Alert Level 4
On 19 March 2020 we published an article focussing on how the general conditions of NZS 3910:2013 respond to the circumstances created by COVID-19. Optimistically, we envisaged a follow up article focussing on the options for procuring new construction projects in the post-COVID-19 world. For our full COVID-19 coverage, follow this URL: https://www.bellgully.com/publications/covid-19-updates
What does the new medicinal cannabis scheme mean for New Zealand?
The Misuse of Drugs (Medicinal Cannabis) Regulations 2019 (the Regulations) and Misuse of Drugs (Prohibition on Utensils) Notice 2020 (the Notice) came into force on 1 April 2020, opening up new avenues for patients to access medicinal cannabis, and new opportunities for business.
Latest updates to the COVID-19 Wage Subsidy Scheme – what employers need to know
Further significant clarifications and updates were announced on 27 and 28 March 2020, which are relevant to any New Zealand employer that has not yet (as at 4pm on 27 March 2020) applied for wage subsidy relief under the Scheme.
COVID-19: RELIEF UNDER CONTRACTUAL PROVISIONS OTHER THAN FORCE MAJEURE
In the current time with the COVID-19 pandemic and consequent commercial hardship, it is almost a reflex action to look for force majeure provisions under contracts to seek relief. However, when analysed carefully, contracts have other provisions, which could also be relied on for seeking relief, especially for cost compensation. These provisions could also be looked at …
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