Firm Profile > Bell Gully > Auckland, New Zealand
Bell Gully Offices
LEVEL 21, VERO CENTRE, 48 SHORTLAND STREET
PO BOX 4199
AUCKLAND 1140
New Zealand
Bell Gully > The Legal 500 Rankings
Banking and finance Tier 1
Bell Gully is considered a leading practice across many sectors of the finance market, including debt capital markets, corporate and acquisition finance, securitisation, infrastructure funding and project finance. Last year, the firm saw increased activity in acquisition funding amidst robust M&A activity, New Zealand dollar-denominated debt by offshore issuers, advisory work and securitisation. The firm acts for a range of large domestic companies, including Air New Zealand, and a host of regional and international banks such as Bank of New Zealand, Commonwealth Bank of Australia and Deutsche Bank. Leading derivatives expert David Craig in Wellington leads the practice, which has standout performers including project finance specialist Hugh Kettle and, in Auckland, David McPherson, who is a key player in debt restructurings, and Murray King, who is a leading light in the growing securitisation market.
Testimonials
“It is a strong full-service firm, very professional.”
“David Craig is very professional and a subject matter expert in financial regulation.”
“The responsive and pragmatic support of the Bell Gully banking team was invaluable leading to a positive outcome for our business.”
“Murray King is a key trusted advisor to our business. I know he will provide considered and thoughtful solutions-focused guidance on complex business issues.”
Key clients
Air New Zealand
ANZ Bank New Zealand
Bank of New Zealand
Commonwealth Bank of Australia (including ASB Bank)
Eclipx (previously FleetPartners)
Fletcher Building
JP Morgan
Deutsche Bank
Reserve Bank of New Zealand
The New Zealand Treasury
SKYCITY Entertainment Group
Vector
Competition law Tier 1
Bell Gully has a diverse client base of blue-chip corporates, which the firm assists with major M&A transactions. The practice also handles numerous multi-jurisdictional transactions with local aspects, and is also highly regarded for its work in cartel matters. It recently handled some of the most important transactions in the market, which included acting for Vodafone Group Plc in its sale of Vodafone New Zealand Limited to a consortium of Infratil and Brookfield Asset Management Limited. In Auckland, practice head Torrin Crowther is widely recognised as one of the country's leading competition lawyers. The firm's specialist lawyers include special counsel Glenn Shewan and rising star senior associate Michael Tilley. Key partner Simon Ladd and, in Wellington, Jenny Stevens are the key litigation partners.
Testimonials
“The firm has a dedicated competition team that provides high-quality and timely advice. It is enjoyable to deal with.”
“Torrin Crowther, Glenn Shewan and Michael Tilley all stand out. Michael is certainly an associate to watch.”
Key clients
Fletcher Building
BP
Vodafone
Todd Corporation
Tronox
MYOB
Bauer
Platinum Equity
Air New Zealand
Goodman Fielder
Corporate and M&A Tier 1
Bell Gully has 'the pre-eminent corporate practice in New Zealand', according to one client, who remarks that 'the advice is outstanding and the partners do not seek to grandstand - they simply do the best deal for their clients'. Department head Torrin Crowther in Auckland and his deputy Amon Nunns in Wellington oversee a team that is home to some of the market's most respected practitioners. In Auckland, Anna Buchly and James Gibson were the lead partners in two landmark corporate transactions - Vodafone's NZ$3.4bn sale of its local subsidiary and Apax Partners LLP's NZ$2.56bn takeover of Trade Me. Brynn Gilbertson and Glenn Joblin are also leading lights in the market. James Cooney and rising star senior associate Jennifer Coote are also recommended.
Testimonials
“The firm has experience, knowledge and focus on obtaining a commercial and practical outcome.”
“Brynn Gilbertson is truly a trusted advisers who knows his stuff and who makes it his business to understand their client’s business.”
“James Cooney is very highly regarded for his commercial approach and technical expertise.”
“Jennifer Coote is a standout senior associate who has a mind like a steel trap – her attention to detail and understanding of deals is second to none.”
“The Bell Gully team is highly responsive to our needs and provides well thought out advice. No matter what the issue is, we can rely on Bell Gully to have someone on the team who can help us.”
“Toby Sharpe is our main contact. He stands out in that despite him often having numerous client priorities, we never feel that our work is given less than the appropriate priority level by Toby and his team.”
“Amon Nunns and team are without peer across the spectrum. They provide clear concise and advice with no hassles, and they are commercially orientated.”
“Amon Nunns has a great team around him but Amon is the ‘go-to’ practitioner.”
Key clients
Vodafone Group Plc
Apax Partners
AIA
Resolution Life
Haier 690
Fletcher Building Limited
Cigna Corporation
Contact Energy
Goodman Fielder
SKYCITY Entertainment Group
Mitsui & Co Limited
GWA Group Limited
Platinum Equity
Westland Co- Operative Dairy Limited
Foley Family Wines
GlaxoSmithKline
GraphPad
Hellers Limited
Sargon Capital Pty
Anixter International Inc
Dispute resolution Tier 1
Bell Gully has one the largest and most prominent commercial litigation teams in New Zealand. Department head Jenny Stevens in Wellington and, in Auckland, deputy practice head David Friar lead the firm's national litigation practice. In Auckland, Simon Ladd is an experienced senior litigator with particular expertise in competition proceedings, construction disputes and insurance law, and Sophie East is recommended for commercial disputes, banking and finance litigation, class actions and securities law. Up-and-coming partner Jesse Wilson handles regulatory matters and corporate disputes and senior associate Rebecca Rose is recommended for her advocacy skills. Ian Gault is now a High Court Judge.
Testimonials
‘I always really enjoy working with Brad Ward and Simon Ladd at Bell Gully. They are intelligent, professional, responsive, good-natured and pleasant to work with, and obviously highly competent technically. Simon and Brad are our preferred external solicitors for all leaky building, construction and commercial disputes.’
‘I rate both Brad Ward and Simon Ladd very highly and look forward to continuing to work with them. They work well as a team. Brad is my go-to commercial litigator for a very broad range of commercial disputes. And Simon’s extensive experience means he is invaluable for strategy discussions and commercial negotiations.’
‘This team’s work is well thought through and presented clearly. Their knowledge of the law is impeccable.’
‘David Friar and Richard Massey have great communication skills which means our expectations are always managed smoothly.’
Key clients
Air New Zealand
ANZ Bank New Zealand
ASB Bank
Auckland Transport
Danone
Genesis Energy Limited
Ngai Tahu
Vodafone New Zealand Ltd
Fletcher Building Ltd
Downer Construction
PwC
Vero Insurance
Southern Response
Korda Mentha
Frucor Beverages Ltd
Insurance Tier 1
Bell Gully has a key role in earthquake litigation and is also a prominent player in corporate transactions and insolvencies involving major insurers. The firm's work for Southern Response Earthquake Services is a key part of its practice, though it has also handled significant matters arising from the Canterbury earthquakes for insurers Vero, AIG, Zurich, QBE, Chubb, and IAG. Last year, the firm handled more 40 insurance claims in the High Court. In Auckland, head of litigation David Friar and Simon Ladd, who is litigation liaison for key insurer client Suncorp, are the lead partners. The firm also has significant regulatory expertise in the insurance sector, including matters in relation to the Insurance Prudential Supervision Act and Reserve Bank insurance requirements.
Key clients
AIA International Limited / Sovereign Limited / Sovereign Life (NZ) Limited
AMP Life Limited
Aon plc
Southern Cross Medical Care Society
Southern Response Earthquake Services
Tower Limited
Vero Insurance New Zealand Limited
Willis Group Limited
Medical Assurance Society NZ Limited
IAG
Labour and employment Tier 1
Bell Gully has a 'highly responsive, and highly skilled employment and workplace safety team' that frequently works with global law firms to handle high-value cross-border M&A transactions, as well as providing specialist advice on regulatory matters and disputes. Litigation partner Rachael Brown in Wellington assists public and private sector clients with the implement of new regulations and acts in high-profile employment disputes. In Auckland, Tim Clarke is experienced in both employment litigation and health and safety matters, and newly promoted partner Liz Coats frequently advises employers on redundancy and restructuring issues. Senior associate Rosemary Wooders also plays a key role in the practice. Rob Towner left the firm to join Richmond Chambers.
Testimonials
“Rachael Brown is highly adept at managing expectations of different personalities and her pragmatic approach to providing advice and guidance and her ability to cut to the heart of the matter without causing offence is a key strength.”
“The firm is very professional, providing high-quality advice from a risk-based perspective. It takes time to understand customer circumstances and needs.”
“Engaging and very professional.”
“The firm provides extremely proficient turnaround time. It is always willing and able to provide advice. The team works well together so that if any one is occupied, someone else in the team can assist, thereby always there when we need them. In particular, I would call out Rosemary Wooders and Elizabeth Coats.”
Key clients
Asahi
Apple
Federal Express
Railways Corporation
AT&T
BP Oil
Deloitte
OfficeMax
HP
Honeywell
Estée Lauder
Frucor Suntory (subsidiary of Suntory)
PricewaterhouseCoopers
Lyttelton Port Company
Vodafone New Zealand
Wellington Electricity Lines Limited
Sime Darby Motor Company
Projects and resources management (including environment) Tier 1
The practice at Bell Gully is 'personable, diligent and creative in the way it solves problems'. The firm is consistently involved in the most comprehensive and forward-looking infrastructure, development and contracting projects. Among these are projects of national significance, as well as several medium and smaller-scale projects. These projects involve the firm's resource management and environment experts, who frequently advise on major energy projects. The core of the practice is based in Wellington, where the lead partners are Hugh Kettle, who recently advised Wellington City Council on several significant projects; resource management specialist Andrew Beatson; commercial property expert David Chisnall; prominent infrastructure partner Simon Watt; and corporate partner Chris Gordon who focuses on energy, resources and infrastructure projects. In Auckland, newly promoted partner Natasha Garvan is recommended for strategic advice on large-scale projects. Senior associate Claire Harmsworth in Wellington is a rising star.
Testimonials
“The team partners with clients at a strategic level to ensure that we are anticipating outcomes. It is pleasant to deal with an anticipate the needs of the client.”
“David Coull has provided a huge amount of value assisting us in a multi-party negotiation. He was able to spot issues coming up and advise us in a timely manner that led to a positive outcome on the new access code. He is exceptionally competent on subject matter and gave our counterparties confidence that we could move forward.”
“The firm has careful thinkers that craft a clear strategy to match the circumstances and ensure a positive result. There is a nice split between Auckland and Wellington with teams across national matters and always available.”
“Andrew Beatson is pragmatic and focused on the key details required to win.”
“Natasha Garvan is diligent and has an eye for detail to ensure all matters are covered.”
Key clients
Auckland Transport
Supporting Growth Alliance (an alliance comprising NZTA, AT, Auckland Council, Buddle Findlay, Bell Gully, Beca and Aecom)
City Rail Link Limited
CentrePort Limited
Crown Infrastructure Partners
Hawkes Bay Regional Council
Housing New Zealand
Meridian Energy Limited
Port Marlborough New Zealand Limited
Tainui Group Holdings
Tauranga City Council
Transpower New Zealand Limited
Wellington City Council
AWE Limited
Anadarko Petroleum Limited
Barton NZ Limited / The Barton Group
Contact Energy Limited
First Gas Limited
Meridian Energy Limited
New Zealand Oil & Gas Limited
Ofer Group
ONGC Videsh Limited
Romarco Minerals Inc.
Trans-Tasman Resources Limited
Transpower New Zealand
Wellington Electricity Limited
Woodside Energy Limited
Real estate and construction Tier 1
Bell Gully 'combines very strong expertise and in-depth knowledge of the field together with a good commercial and efficient approach to transactions', notes one client. Andrew Petersen and Simon Ladd in Auckland and, in Wellington, David Chisnall are the lead partners in the property, real estate and construction practice. Petersen, who counts Tāmaki Redevelopment Company and SkyCity Entertainment Group among his clients, handles corporate, property and Overseas Investment Act matters. Ladd is a leading light in contentious construction matters. Also in Auckland, Jane Holland, who has more than 20 years' experience in New Zealand and the UK, specialises in commercial leasing and development projects. Chisnall has built his expertise over many years in some of the country's most significant property projects, and he the structuring, procurement and delivery of large-scale construction and development projects, as well as acquisitions, disposals and leasing. Newly promoted partner Ian Becke is also recommended.
Testimonials
“The firm shows a high level of professionalism and has solid team depth, with partners and expertise in every field related to real estate.”
“Ian Becke is exceptionally good. We have been working together over five years in many deals on the real estate transaction side and he combines strong expertise in the field, good commercial sense and strong focus on quality and client care. In addition, because of his previous experience in Australia, he is bringing a new level of professionalism to the field.”
“Senior solicitor Jan Chen is very efficient, detailed and thorough in various aspects of the deals we are working on and she is an important asset to the team.”
“The construction team has offered real-time advice based on industry best practice in New Zealand.”
“Ian Becke brings high level experience to the table along with a very personable and friendly approach. He and his team ensure that complex legal ease is unpacked so as the non-lawyers understand. They also ask the right questions, so they understand the risks associated from a practical perspective for a construction project.”
“The firm brings depth of capability, flexibility and a willingness to consider new approaches and ideas.”
“Ian Becke is a knowledgeable, innovative, highly pragmatic and solution-focused lawyer and an astute negotiator.”
“Bell Gully is very professional and has lots of experience. The team points out exactly what we should focus on. And from the minor things to big one, their consulting was reliable.”
“It is the market’s leading real estate practice. It has a very deep pool of expertise across the property team. They cover the market and are very up-to-date with recent market changes and trends, which as a principal investor is critical to being successful in a very competitive investment market.”
“Jane Holland is one of the most experienced and respected property partners in NZ. We have completed multiple billions of transactions with Jane and her team and she has always been nothing short of exceptional.”
“We formed a great working relationship on a very tough and complex deal. Bell Gully’s technical expertise, broad experience and commercial nous were invaluable on the deal. However, the personalities were probably the most important part of making the deal team function so well.”
“Andrew Petersen has a great body of experience which he was able to apply to a unique and complex transaction to help find practical solutions.”
“For construction and leaky building matters, Simon Ladd and Brad Ward provide excellent, timely advice and they are an absolute pleasure to work with.”
“The firm has really valued, trusted advisors on complex deals. The lawyers present as very strategic, out-of-box thinkers work well as a team. They are technically outstanding.”
“Susannah Shaw was outstanding and David Chisnall provided great oversight as partner.”
“Hugh Kettle is just superb.”
“Jane Holland leads a strong team that meets our needs over a wide range of real estate and construction matters. She has complete client focus.”
Key clients
Auckland Transport
ANZ Bank
David Jones
Fletcher Building
Investec Property Limited
Invesco Real Estate
Kiwi Property Group
Port Marlborough
Precinct Properties Limited
Stride Property
Tainui Group Holdings
Tāmaki Redevelopment Company
Tauranga City Council
Vital Healthcare Property Trust
Wellington City Council
PAG Real Estate
Auckland Transport
Department of Corrections
Downer New Zealand Limited
Fletcher Construction Limited
Genesis Energy
Horizons Regional Council
Library Lane Limited
NZ Transport Agency
Precinct Properties New Zealand Limited
Tauranga City Council
Vero Insurance New Zealand Limited
Wellington City Council
Tax Tier 1
Bell Gully in Auckland has the largest specialist tax practice in the market and it has a track record of involvement in major corporate transactions and precedent-setting tax disputes. It is also highly skilled in private client tax work for high-net-worth individuals, indirect tax and customs and excise matters. It is also regarded as having the leading transfer pricing practice in the market. Tax disputes specialist Mathew McKay leads the practice and frequently acts for domestic and offshore clients in the full range of tax matters. Willy Sussman is New Zealand’s only specialist indirect tax lawyer and Graham Murray is a respected transactional tax expert. Campbell Pentney, who is a key member of the GST and Customs and Excise specialist group, and tax litigation specialist Hayden Roberts are up-and-coming partners.
Testimonials
“These guys are very clever, practical and easy to deal with. They also turn things around quickly and are able to work closely and proactively with their clients which is invaluable.”
“Matthew McKay is a star. He is always available and involved but uses people in his team carefully and collaboratively to deliver great results. It is a pleasure working with him and his people.”
“The analysis undertaken by the team at Bell Gully is incredibly thorough – we have complete confidence that the team can come up with the ‘right’ solutions to address complex issues and problems.”
“Matthew McKay, Hayden Roberts and Graham Murray are all very responsive when urgent advice and assistance is sought.”
“The dedicated tax practice in Auckland is highly technically proficient, timely and great value for money. As one of leading tax practices in New Zealand, the team is able to identify key issues and communicate complex issues succinctly and in a manner that is easily understood. Not only does the team identify such issues, but it also proposes practical solutions or actions.”
“Practice head Mathew McKay is technically brilliant, and is one of the leading litigators when it comes to arguing complex tax technical issues.”
“Graham Murray, a newer partner, has been well mentored and trained by Mathew and continues to provide excellent service and advice.”
Key clients
Frucor / Danone
Fletcher Building Limited
Cigna
Vodafone Group Plc
Apax Partners
Chatfield & Co
Todd Energy
Canterbury Jockey Club
Special Situations Assets Limited
AIA
Platinum Equity
Bapcor
Resolution Life
Waikeria Prison Ppp3
Westland Co-Operative Dairy
Bank Of America Merrill Lynch
Graphpad
Contact Energy Limited
Transport (rail, road, air and sea) Tier 1
Bell Gully has a long-standing transport practice and significant experience of aviation, road, rail and maritime matters. The firm advises leading airlines, government agencies, infrastructure developers and ports. It is also one of the key firms advising Te Tupu Ngātahi – the Supporting Growth Alliance – on route protection of the transportation network required to service the next 30 years of Auckland’s growth. Department leader Torrin Crowther in Auckland is a competition law specialist who advises key transport sector clients including Air New Zealand. Among the key partners in Wellington are resource management specialist Andrew Beatson and infrastructure expert Hugh Kettle, who count Auckland Transport and NZ Transport Agency among their clients, and David Chisnall who handles the structuring, procurement and delivery of large-scale construction and development projects.
Key clients
Air New Zealand
New Zealand Transport Agency
Auckland Transport
Centre Port Properties Limited
Port Marlborough New Zealand Limited
Hawke’s Bay Regional Investment Company
Intellectual property Tier 2
Bell Gully's Auckland office is home to a large multi-disciplined IP team. Its primary focus is on high-level strategic work on significant corporate transactions, as well as high-profile contentious matters and trade mark work for blue-chip corporate clients. Its recent work includes one of the most prominent copyright infringement cases in the market, as well as trade mark portfolio management for key clients such as Unilever and Reckitt Benckiser. Partner Alan Ringwood, who leads the IP and media practices, and special counsel Sooyun Lee, who is head of one of the largest trade mark practices at a full-service firm, are the principal practitioners. The firm has extensive IP litigation expertise with Tania Goatley the lead partner for media, advertising, privacy law and IP matters.
Key clients
Vodafone Group PLC
Apax Partners LLP
Cigna International Corporation
Qingdao Haier Co.Limited
Resolution Life Group Holdings Limited
ESW Holdings Inc
Hellers Limited
Platinum Equity
Various
Unilever
Reckitt Benckiser
Frucor Suntory New Zealand Limited
Abbott Laboratories
Abbvie
BMW
The Body Shop
Investment funds Tier 2
Bell Gully in Auckland has a diverse investment funds practice that is involved not only in on-going regulatory change, but also handles significant transactional work. Last year, this included setting up a new fund intended to help Iwi/Māori groups diversify their portfolios. The firm advises numerous leading issuers and supervisory organisations including New Zealand Guardian Trust, Covenant Trustee Company, ANZ Bank and fund managers AMP, Suncorp and Craigs Investment Partners. Haydn Wong leads the practice, which draws on expertise from the firm's corporate, banking and finance practices. He acts for some of New Zealand’s largest fund managers and supervisors in funds management, KiwiSaver, superannuation and insurance matters. Amon Nunns is a key adviser to Stride Property Group, which controls one of New Zealand’s largest diversified investment property portfolios.
Key clients
AMP
ANZ Bank
Craigs Investment Partners
The New Zealand Guardian Trust Company Limited
Asteron / Suncorp
Covenant Trustee Services Limited
First State Investments
Guardians of New Zealand Superannuation
Stride Property Limited
Restructuring and insolvency Tier 2
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.
Key clients
PwC
ANZ Bank New Zealand Limited
KordaMentha
McGrath Nicol
KPMG
ASB Bank
BNZ
Grant Thornton
BDO
Ferrier Hodgson
TMT Tier 2
Bell Gully handles some of the largest M&A transactions in the technology and telecoms sectors, which last year included acting for Vodafone Group plc in its sale of Vodafone NZ to an investment consortium of Infratil and Brookfields Asset Management for NZ$3.4bn. The firm is also active in public sector technology procurement, and advises a broad range of clients on emerging technologies such as blockchain, artificial intelligence, virtual reality and augmented reality. In the telecoms sector, it continues to act for Crown Fibre Holdings in the roll-out of Ultra-Fast Broadband. Cybersecurity and data privacy, including advice on Privacy Act obligations, guidance, policies and procedures, are also core elements in the practice. ICT specialist Dean Oppenhuis in Wellington and Auckland-based media lawyer Alan Ringwood are the key partners.
Key clients
Vodafone
Department of Internal Affairs
Crown Infrastructure Partners (previously Crown Fibre Holdings)
APN News & Media
Colenso BBDO
Bauer Media
Bloomberg LP
8i
Rocketlab
Straker Translations
HNA Group
Netflix Luxembourg S.à.r.l.
NZME
Centrality Investments
Department of Corrections
Bell Gully > Firm Profile
The firm: Bell Gully is independently recognised as New Zealand’s leading commercial law firm. The firm helps many of New Zealand’s leading companies and public sector agencies navigate their most complex and ambitious projects along with their day-to-day operational issues. The firm has a team of 194 lawyers who combine market leading corporate, commercial, employment, financial services, dispute resolution, property and tax capability along with a wide array of specialist skills. The firm’s range of expertise and experience is extensive, and their work ranges from the most complex and ambitious projects and difficult cases, to day to day operational issues. Bell Gully consistently delivers practical solutions to everyday and unique problems.
Internationally, the firm works with prestigious multinational clients and maintains strong links with leading law firms in Australia, Asia, Europe and the United States.
The firm’s service is founded on being available, commercial and cost-effective – and on being enjoyable to work with. Through dedication to understanding clients’ business and goals, the firm translates the law into everyday commercial language, provides solutions and prepares clients for challenges before they arise.
Areas of practice: Bell Gully is a full-service law firm. Major practice areas include corporate, financial services, property, tax and litigation, and the firm is capable of acting on large and complex commercial matters.
Areas of expertise include: acquisition finance; agribusiness; arbitration; asset finance; banking and finance; banking and finance litigation; class actions; climate change; commercial; commissions and inquiries; competition; construction; consumer law; corporate governance and advisory; cyber security; debt capital markets; derivatives; employee share schemes; employment; energy; entertainment finance; environment and planning; equity capital markets; financial sector regulation; food, beverage and hospitality; forestry; goods and services tax; health; health and safety; immigration and relocation; information, communications and technology; infrastructure and projects; insurance; intellectual property; international; international trade – customs and excise; joint ventures; litigation and dispute resolution; Maori; media; mergers and acquisitions; overseas investment; privacy and data protection; private equity and venture capital; project finance; property and real estate; property finance; public law; regulatory investigations and prosecutions; residential property; restructuring and insolvency; securitisation; structured finance; takeovers; tax; tax disputes and litigation; transport; trusts, asset and estate planning; water, waste and contamination.
Lawyer Profiles
| Photo | Name | Position | Profile |
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Mr Dean Alderton | View Profile | |
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Mr Karl Anderson | View Profile | |
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Mr John Bassett | View Profile | |
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Mr Tom Bennett | View Profile | |
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Ms Anna Buchly | View Profile | |
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Mr Tim Clarke | View Profile | |
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Mr James Cooney | View Profile | |
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Mr Torrin Crowther | View Profile | |
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Mr Garry Downs | View Profile | |
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Ms Sophie East | View Profile | |
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Mr Tim Fitzgerald | View Profile | |
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Mr Ian Gault | View Profile | |
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Mr James Gibson | View Profile | |
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Ms Tania Goatley | View Profile | |
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Mr Chris Goddard | View Profile | |
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Ms Jane Holland | View Profile | |
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Mr Glenn Joblin | View Profile | |
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Mr Murray King | View Profile | |
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Mr Simon Ladd | View Profile | |
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Mr Mathew McKay | View Profile | |
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Mr Graham Murray | View Profile | |
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Ms Rachel Paris | View Profile | |
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Mr Andrew Petersen | View Profile | |
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Mr Alan Ringwood | View Profile | |
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Mr Toby Sharpe | View Profile | |
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Mr Willy Sussman | View Profile | |
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Mr Clive Taylor | View Profile | |
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Mr Rob Towner | View Profile | |
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Mr Jarrod Walker | View Profile | |
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Mr Haydn Wong | View Profile |
Staff Figures
Number of lawyers : 194 at this office : 145Languages
Afrikaans Cantonese Croatian Czech Dutch Filipino/Tagalog French German Greek Hindi Indonesian Italian Japanese Korean Latvian Mandarin Maori Polish Portuguese Punjabi Russian Samoan Spanish Sundanese Swedish TokelauanMemberships
IBA IFA INTA IPBA IPSANZ Asia Pacific Loan Market Association Association of International Petroleum Negotiators Financial Services Institute of Australasia Petroleum Exploration and Production Association of NZOther
Other offices : WellingtonPress Releases
Bell Gully confirmed as exclusive legal supplier for Emirates Team New Zealand
Bell Gully is proud to announce that it is an exclusive legal supplier to Emirates Team New Zealand for the 36th America's Cup defence.
Bell Gully advises on the acquisition of New Zealand fintech TALKINGTECH
Bell Gully has advised data registry and analytics business illion (formerly trading as Dun & Bradstreet) on its acquisition of fintech business TALKINGTECH.
Bell Gully advises Contact Energy on Rockgas sale
Bell Gully advised Contact Energy Limited (Contact) on the sale of its LPG business, Rockgas, to Gas Services NZ Midco Limited (GSNZ) for $260 million.
Bell Gully advises Nelson Properties Limited and Global Forest Partners LP on the sale of Nelson For
Bell Gully advised Nelson Properties Limited (NPL), an investment fund advised by Global Forest Partners LP (GFP), on the sale of shares in Nelson Forests Limited to Australian forestry company OneFortyOne Plantations Holdings Pty Limited (OFO), which received regulatory approval to proceed in late August.
Bell Gully advises Straker Translations Limited on its IPO and ASX listing
Bell Gully advised Straker Translations Limited on its initial public offering (IPO) and listing on the Australian Securities Exchange (ASX) on October 22. Straker Translations Limited is a cloud-enabled translation services provider with sales offices across nine countries, including the US, UK and Singapore.
Leading law firms advise on Fletcher Building sale of Roof Tile Group to IKO
Leading law firms Chapman Tripp and Bell Gully advised on Fletcher Building’s sale of international roofing products manufacturer Roof Tile Group (RTG) to Canadian roofing company IKO.
Bell Gully acts on a significant tax avoidance win
Bell Gully represented Frucor Suntory New Zealand Limited in Frucor Suntory New Zealand Limited v Commissioner of Inland Revenue, a High Court decision which marks an important victory for New Zealand tax-paying entities on tax avoidance.
Bell Gully leads New Zealand across key IFLR1000 2019 ranking categories
International Financial Law Review (IFLR) has recognised Bell Gully as leading the New Zealand market across key categories in its latest directory released in early November.
Bell Gully advises Crown Infrastructure Partners on new funding model for Fulton Hogan’s Milldale de
Bell Gully advised Crown Infrastructure Partners (CIP) on the development and implementation of a new funding model recently announced by the Government at Fulton Hogan's Milldale development, north of Auckland. Work on the project commenced in early 2018 and reached financial close last month.
Simon Watt ranked as international climate change expert in Chambers Global 2018
Bell Gully partner Simon Watt is the only New Zealand climate change expert ranked in international climate change rankings of Chambers Global for a fourth consecutive year.
Busiest year for takeovers in a decade
New Zealand listed companies attracted strong interest from buyers in 2017, producing the highest level of takeover activity seen in the past decade, according to a new update by law firm Bell Gully.
Bell Gully welcomes new Chair
Leading law firm Bell Gully has appointed Anna Buchly as its new Chair.
Bell Gully advises on the sale of leading Auckland radiology groups
Bell Gully has advised the sellers on the sale of three leading Auckland radiology groups to Australian listed medical imaging company Integral Diagnostics (ASX: IDX).
Bell Gully advises on nationally significant Asset Management and Facilities Management contract
Bell Gully has advised the Department of Corrections on a new national Asset Management and Facilities Management Services contract, considered to be one of the most significant outsourcings by the New Zealand Government in recent years.
Bell Gully welcomes two new senior associates
Bell Gully has further strengthened the senior ranks of its corporate and resource management teams with the appointment of two new senior associates, Ryan Ellis and Jill Gregory.
Bell Gully advises Orion Health Group Limited on its transaction with private equity technology inve
Bell Gully advised NZX/ASX listed company Orion Health Group Limited (Orion Health) on its agreement in relation to Orion Health's Rhapsody and Population Health businesses with private equity technology investor Hg. Hg is a specialist technology private equity investor with funds of c.£10 billion under management.
Bell Gully releases ninth Pro Bono and Community report
Many of the charitable organisations we partner with work tirelessly raising awareness for groups in society that are marginalised and unheard. They strive to give them a voice and the practical support they need to thrive.
Bell Gully advises software company Gentrack on accelerated entitlement offer
Bell Gully is advising NZX/ASX listed company Gentrack on an accelerated entitlement offer as it seeks to raise approximately NZD$90 million to pay down debt from recent acquisitions. Gentrack provides essential software services to utilities companies and airports.
Bell Gully wins Deal Firm of the Year at the 2018 Australasian Law Awards
Bell Gully is delighted to have won the top New Zealand award, Deal Firm of the Year, at the 2018 Australasian Law Awards.
Bell Gully leads in M&A league tables for 2017
Bell Gully has retained its market-leading position as a legal adviser for mergers and acquisitions, according to two major international league tables released in January.
Bell Gully competition team awarded ‘Elite’ global ranking
Bell Gully’s competition team has secured an ‘Elite’ ranking from the Global Competition Review’s GCR100 global survey of the world’s leading competition law practices for a 13th consecutive year.
Bell Gully announces two new partners and nine senior appointments
Bell Gully is pleased to announce the appointment of two new partners, a new special counsel and eight new senior associates. The new partners are corporate specialist Laura Littlewood and commercial litigator Jesse Wilson.
Bell Gully performs strongly in top legal directories
The latest results from leading legal directories The Legal 500 Asia Pacific and Chambers Asia Pacific confirm Bell Gully’s leading position in the New Zealand legal market.
Bell Gully releases eighth Pro Bono and Community report
Bell Gully releases eighth Pro Bono and Community report
Monday 24 July 2017
New Zealand’s communities are supported by a diverse range of charitable organisations, many of which have come up with inventive approaches to address areas of need.
At Bell Gully we support these initiatives in the best way we can - by providing free legal advice - so charities can direct their resources towards helping our local communities thrive. Last year, the value of our pro bono work exceeded our NZ$1 million fee equivalent budget.
Bell Gully tops first quarter M&A league tables
Bell Gully has topped the three major international league tables for mergers and acquisitions in the first quarter of 2017, extending the market-leading position the firm held in 2016.
Legal Developments
Is unfair risk allocation really to blame?
The purpose of this article is to test whether the current state of the industry has primarily resulted from a collective failure to fairly allocate risk, or whether other factors are also culpable to a greater or lesser degree.
New conduct regime for banks, insurers and NBDTs announced
On 25 September the Government announced wide-ranging legislative reforms to govern the conduct of financial institutions.
Further reform announced on unfair commercial practices and contract terms
The Ministry of Business, Innovation and Employment recently announced its policy decisions regarding changes to the law on unfair commercial practices.
Publication Data protection and real-time bidding technology: Is a crackdown by regulatory authorit
In July the Information Commissioner's Office released its report into real-time bidding and ad technologies.Comprehensive overhaul of the RMA announced
The Government announced on 24 July that it has launched a comprehensive overhaul of the Resource Management Act (RMA) by setting up a review panel to conduct a wide-ranging review of the entire resource management system.Privacy Bill faces clear path to law after second reading
A bill to modernise New Zealand’s privacy laws has finally concluded a protracted second reading and is now all but sure to be voted through to the final stage and pass into law without any major hurdles.Financial market infrastructures law one step closer to reality
On 1 August the Reserve Bank of New Zealand released an exposure draft of the Financial Market Infrastructures Bill.Derivatives Margin Bill is passed
The Financial Markets (Derivatives Margin and Benchmarking) Reform Amendment Bill has proceeded through its remaining stages and received its third reading on 27 August.
The meaning and contestability of fair risk allocation in commercial contracting
This article focuses on fair risk allocation in the New Zealand construction industry.Report sets out 10-year vision for New Zealand’s capital markets
Yesterday the steering committee of Capital Markets 2029 released its final report. The review had been initiated earlier this year by NZX and the Financial Markets Authority – with the objective of delivering a ten-year vision and growth agenda for the sector.Court of Appeal allows opt-out class actions
In a landmark decision for class actions in New Zealand, the Court of Appeal has ruled that a representative action brought by two Christchurch homeowners can proceed on an “opt-out” basis.New immigration rules: A streamlined process or more red tape?
On 17 September, the Government announced significant changes to temporary work visas which will have a major impact on employers' recruitment processes where they hire migrant workers.Consultation announced on a proposed Medicinal Cannabis Scheme
The Ministry of Health (MOH) has announced it is consulting on a proposed Medicinal Cannabis Scheme.Supreme Court rules that insurance reinstatement rights cannot be assigned
The Supreme Court in Xu v IAG New Zealand Ltd has ruled by a 3:2 majority that, under an IAG house insurance policy, homeowners cannot assign their right to reinstate to a subsequent purchaser of the house. Homeowners must undertake the reinstatement themselves, and if they do not, the right to claim the cost of reinstatement under the insurance policy is lost.
The Zero Carbon Bill – a closer look
The long-awaited "Zero Carbon Bill" was finally released on 9 May, but despite being greeted by considerable media interest there are a number of significant issues that have yet to come to the fore.A link tax in New Zealand?
A controversial payment to publishers for content in Europe has implications for New Zealand – despite escaping mention in a recent paper that set out the key issues for review for our own copyright laws.News media exemption under the Privacy Act: now a matter of “responsibility”?
The role of the news media as the "eyes and ears" of the public, and the corresponding right of such news media to be exempted from the Privacy Act 1993 (Privacy Act), is entrenched and well accepted. However, the extent to which the news media exemption applies to non-traditional forms of "news" published by "civilian journalists", such as online commentary and blogs, is a hotly debated subject.Derivatives Margin Bill a step closer to becoming law
In an article in Februarythis year, we reported on the introduction into Parliament of the Financial Markets (Derivatives Margin and Benchmarking) Reform Amendment Bill (the Bill).Climate-related risk highlighted in Reserve Bank Act review
The role of the Reserve Bank in assessing and responding to the risks climate change poses to financial stability features in the current consultation on New Zealand's financial policy framework. Inclusion of climate change as part of the wide-ranging review of the Reserve Bank Act is further evidence of the growing trend towards climate-related risk reporting and disclosures.Taxation of the Digital Economy: update
In early June the Government released a discussion document on New Zealand's options for taxing the digital economy.Who reads online terms, and does it matter? Lessons from the US
"Any internet user knows, website terms and conditions are burdensomely long. One rarely reads the fine print when they create a social media account, buy an e-book or movie, use a ridesharing service, or download a mobile app."Mandatory reporting requirements soften in Privacy Bill
The Privacy Bill began its second reading before parliament on Tuesday 18 June. The proposed legislation is set to reshape the privacy landscape and bring New Zealand in line with global trends.Overseas investment review – phase two released
On 16 April the Government launched its public consultation document on the 'second phase' of its Overseas Investment Act 2005 (the Act) reforms (as foreshadowed in our announcement late last year).Digital services tax: what would it look like?
Earlier this year, Prime Minister Jacinda Ardern announced the Government's intention to introduce a new digital services tax (DST) that would apply to multinational digital companies operating in New Zealand.
Ownership of information in the digital world – reforms to copyright law in Europe and New Zealand
The European Parliament recently voted in favour of the Copyright in the Digital Single Market Directive ('Copyright Directive'), in a decision that has the potential to revolutionise the way copyright is treated on the internet.Criminal sanctions for cartel conduct introduced into law
Criminal sanctions for cartel conduct have now passed into law, almost a decade after they were first considered.Arbitration law reform: three takeaways
Last week, Parliament made several technical reforms to New Zealand's arbitration legislation. The changes will be of interest to any party considering an arbitration, or to anyone drafting a dispute resolution provision. In this update, we draw three relevant points to your attention.
A link tax in New Zealand?
A controversial payment to publishers for content in Europe has implications for New Zealand – despite escaping mention in a recent paper that set out the key issues for review for our own copyright laws.The Tax Working Group’s Interim Report – A capital gains tax for New Zealand?
The Tax Working Group has released its Interim Report on the Future of Tax. Amongst a number of other matters, the Interim Report describes two alternative methods for the implementation of a capital gains tax in New Zealand, which will be the subject of further consideration over the coming months.
Privilege in regulatory investigations: UK Court of Appeal supports a broad approach
Last week, the UK Court of Appeal released its much-anticipated judgment in ENRC v SFO[1], a decision with significant implications for the scope of legal professional privilege in the context of regulatory investigations.
Overseas Investment – review announced just as new regime comes into force
Just days before amendments to New Zealand’s overseas investment regime take effect, the government has announced its intention to undertake a further review of the legislation.
New NZX Listing Rules in force from 1 January 2019
NZX today published the final version of its updated listing rules. These new rules will take effect on 1 January 2019, subject to a six-month transition period.
Trans-Pacific Partnership trade benefits are coming
Following several years of negotiations, and after the high-profile collapse of the original Trans-Pacific Partnership (TPP) in 2017, the renamed “Comprehensive and Progressive Trans-Pacific Partnership” (CPTPP) has now met the required number of ratifications to come into force. This is due to occur on 30 December 2018. This will offer New Zealand businesses a range of opportunities they should plan for, including reduced tariffs on a number of key exports.
CPTPP Agreement sparks further legislative change
The Government has introduced further amendments to the Overseas Investment Regulations 2005 (the Regulations) to ensure New Zealand complies with its obligations under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (the CPTPP Agreement) and various other international agreements New Zealand is a party to.
What is the latest in privacy law reform?
The Overseas Investment Amendment Bill (the Bill) was passed yesterday after its third and final reading. It is likely to receive Royal assent this month. Once that occurs, the provisions of the Bill that limit the ability of overseas persons to purchase residential property in New Zealand and the changes in the regime governing overseas investments in forestry will officially become part of the Overseas Investment Act (the Act).
Residential land amendments mark new era in New Zealand’s overseas investment regime
The Overseas Investment Amendment Bill (the Bill) was passed yesterday after its third and final reading. It is likely to receive Royal assent this month. Once that occurs, the provisions of the Bill that limit the ability of overseas persons to purchase residential property in New Zealand and the changes in the regime governing overseas investments in forestry will officially become part of the Overseas Investment Act (the Act).
A fresh look at the recoverability of takeover expenses
The High Court has revisited the recoverability of a target company's expenses for the first time in more than 45 years. The case has important implications for future reimbursement disputes.
Insurance contract law reform back on the agenda for 2018
The Government announced on 6 March that it is undertaking a review of New Zealand's insurance contract law, and has released a terms of reference for the review here.
Robo-advice exemption: Ready, steady, go (applications are now open)
The Financial Markets Authority (FMA) is now accepting applications from entities that wish to provide personalised robo-advice to consumers.
Development exemption struck from Overseas Investment amendments, private bill possible
The surprise removal of a private exemption from the Overseas Investment Amendment Bill (the Bill) by New Zealand's Speaker of the House has raised the possibility developers could consider seeking exemptions from the Act through a separate, private bill.
Europe FTA could offer NZ many indirect benefits
A European Free Trade Agreement (FTA) may present more opportunity than just enhanced trade with Europe.
Taxing the blockchain – cryptocurrency and employee remuneration
Bitcoin and other cryptocurrencies have seen considerable growth over the last 12 months, meaning the general public are more aware than ever of these digital assets.
Employers face claims by MBIE for holiday pay non-compliance
The widespread problems relating to compliance with the Holidays Act 2003 have recently hit the headlines again.
Insider trading laws – clarity for the market
New regulations will finally clarify that in most cases insider trading rules do not apply to a new issue of financial products.
OIO residential land amendments delayed
The date for the Select Committee to report to Parliament on the Overseas Investment Amendment Bill (the Bill) has been extended to 21 June 2018. The Select Committee's report was previously anticipated on 31 May 2018. This delay is unsurprising given the substantial number of submissions to the Select Committee, and it is encouraging to see the Select Committee taking more time to work through the potential unintended consequences for businesses from the Bill.
Australian class action reform: implications for New Zealand
On 31 May 2018, the Australian Law Reform Commission (ALRC) released a discussion paper as part of its inquiry into class action proceedings and third-party litigation funders.
Zero Carbon Bill update: discussion document seeks public feedback
Public consultation that could have far-reaching implications for business is underway on the Government's proposed Zero Carbon Bill, following the release of a Discussion Document by the Ministry for the Environment. There is currently no draft bill; the Discussion Document seeks feedback on key questions of policy and systems architecture that will underpin the legislative regime. This is an early opportunity for those affected to have their say on the Government's approach to some fundamental questions as it seeks to transition New Zealand to a net zero emissions economy. Consultation closes at 5pm on 19 July 2018.
New leniency for foreign buyers in Overseas Investment Act overhaul but redraft raises fresh issues
A select committee report on changes to overseas investment rules has proposed relaxing some of the planned restrictions on foreign buyers which could have hindered development, but the amendments raise a number of new issues that require close examination.
Double tax agreement interpretation in the spotlight again – Court of Appeal reverses foreign tax
The correct interpretation of New Zealand's double tax agreements (DTAs) is once again in the spotlight after a recent Court of Appeal decision treats them in the same way as private contracts. Previously, local and international rulings suggested the international context and purposes of such treaties should be taken into account.
Tax treatment of cryptocurrencies – Questions and (some) Answers
The Inland Revenue has published a Q&A on the income tax treatment of cryptocurrencies. You can find the document here.
NZX consults on revamped listing rules under a new market structure
NZX has released an exposure draft of its proposed new listing rules for consultation, with a view to implementing the new rules towards the end of 2018 and bringing them into effect on 1 January 2019. This follows NZX’s consultation at the end of last year on a wide span of issues to reform and reinvigorate NZX’s capital markets, ranging from a consideration of the structure of NZX’s equity markets to specific listing rule settings.
Proposed GST changes for low value goods
Interested parties should pay attention to the Government’s call for submissions on proposals to lower the threshold at which offshore purchases become liable for GST, with decisions yet to be made on a number of aspects.
Multinational tax proposals move closer to enactment with (some) taxpayer concessions
The Officials' Report on submissions on the bill containing new rules to combat "base erosion and profit shifting" (often referred to as BEPS) by foreign multinationals has finally been released together with the second reading of the bill. Concerns that the new rules could impact foreign investment in New Zealand and therefore should be abandoned or deferred were largely rejected by Officials. Officials are clearly committed to bringing the proposals into law in time for the 1 July 2018 target date, but did recommended some softening at the edges to address public concerns.
A win for contractual certainty – UK Supreme Court finds “no oral variation” clauses enforceable
In a welcome move from the standpoint of contractual certainty, the United Kingdom's Supreme Court has overturned the Court of Appeal in its eagerly-awaited decision in Rock Advertising Ltd v MWB Business Exchange Centres Ltd. In doing so, the Supreme Court has unanimously confirmed that no oral variation (or modification) (NOM) clauses are valid and enforceable in contract law. The decision brings an end to decades of debate in the United Kingdom about the issues. Undoubtedly, it will also shape future New Zealand decisions.
Arbitration in New Zealand
International arbitration is growing in importance as a dispute forum in New Zealand as it is around the world.
Domestic violence victims one step closer to receiving greater protection from their employer
The Domestic Violence – Victims' Protection Bill took another step forward in Parliament in June and has now passed its second reading.
Government puts cartel criminalisation back on the table
The Minister of Commerce and Consumer Affairs, Kris Faafoi, has today tabled the Commerce (Criminalisation of Cartels) Amendment Bill (the Bill) in the House.
New Zealand favours English approach to penalties
A recent High Court decision marks an important step in the development of the approach to the “Penalty Doctrine” in New Zealand – that is, the principle that contractual provisions which allow parties to punish one another disproportionately are unenforceable. Justice Whata’s judgment in Honey Bees v 127 Hobson Street1 carefully traverses the recent evolution of the doctrine and provides helpful clarification of its application to contracts in New Zealand.
How open is New Zealand to Open Banking
This week New Zealand hosts the Digital Nations 2030 to discuss what is required to become a truly digital nation by 2030. Open Banking is a critical first step, but where is it on the Government’s agenda?
International tax information exchange in the spotlight after judicial review blocks IRD information
Auckland-based accounting firm Chatfield & Co Ltd has won a judicial review into the lawfulness of information production notices issued by the Commissioner of Inland Revenue (the Commissioner).
New report suggests the time is right to review the electricity sector
Renewable energy targets and the take-up of new technologies mean it is the right time to review the regulatory settings for the electricity sector, according to a new report by law firm Bell Gully.
VIDEO: Businesses must prepare for a future with higher carbon costs
Businesses must prepare for a future with higher carbon costs
Simon Watt, Partner | November 2017
A Zero Carbon Act will set New Zealand’s first legally binding target for emissions reduction, which will be monitored by an independent Climate Commission. Simon Watt, corporate partner at Bell Gully and an internationally recognised climate change lawyer, was interviewed by Unfiltered about the key climate change measures that have emerged from the election and the implications for business.
“Transformational” changes to the employment landscape under new government?
“Transformational” changes to the employment landscape under new government?
Rachael Brown and Tim Clarke, Partners | Thursday 26 October 2017
The change in government after nine years is likely to result in important changes to the employment landscape in New Zealand. The coalition agreement between the New Zealand Labour Party and New Zealand First describes the parties' intention of providing a "transformational" government with a key focus on sustainable economic development, higher wages, a healthy environment and reducing poverty and inequality. This article provides a summary of the key policies that will have an impact on New Zealand's employment laws and framework.
Update on the new Government’s foreign investment policy direction
Update on the new Government’s foreign investment policy direction
Andrew Petersen and Willy Sussman, Partners | Wednesday 29 November
The New Zealand Government has published the first of its changes aimed at strengthening the Overseas Investment Act 2005 (OIA) by issuing a new Directive Letter (Letter) to the Overseas Investment Office (OIO). This will affect foreigners looking to purchase sensitive land in New Zealand.
VIDEO: Outlook for construction in New Zealand
VIDEO: Outlook for construction in New Zealand
Tom Bennett, Partner | November 2017
The New Zealand Government’s planned investment in infrastructure includes a greater focus on public transport and regional development. Property lawyer Tom Bennett, a construction specialist with Bell Gully’s projects and developments team, was interviewed by Unfiltered about the outlook for construction in New Zealand, and the potential impact of policy changes on a sector facing high demand and capacity constraints.
Corporate Reporter – Issue No. 47
Corporate Reporter - Issue No. 47
Glenn Joblin and Torrin Crowther, Partners | Tuesday 22 August 2017
Welcome to Issue No. 47 of Corporate Reporter, Bell Gully's regular round-up of corporate and general commercial matters, designed to keep you informed on regulatory developments, legislation and cases of interest.
Passing of Cartels Bill marks new era in New Zealand competition law
Passing of Cartels Bill marks new era in New Zealand competition law
Torrin Crowther, Partner and Glenn Shewan, Senior Associate | Thursday 10 August 2017
After almost six years before Parliament, the Commerce (Cartels and Other Matters) Amendment Bill finally passed its third reading in Parliament today. Royal Assent is expected in the coming days.
CCH New Zealand Budget Report 2017
CCH New Zealand Budget Report 2017
Mathew McKay, Partner | Thursday 25 May 2017
In conjunction with CCH, our tax team has analysed the 2017 Budget and has produced a report providing an in-depth analysis of its implications.
Doing Business in New Zealand: a guide
Doing Business in New Zealand: a guide
Wednesday 26 July 2017
In response to demand from overseas investors and their professional advisers for information about investing in and trading with New Zealand, Bell Gully has produced a guide to doing business in New Zealand.
New Zealand proposes steps to keep playing in the global OTC sandpit
New Zealand proposes steps to keep playing in the global OTC sandpit
David Craig, Partner | Friday 14 July 2017
For large counterparties based in G20 countries, margin rules for over-the-counter (OTC) derivatives have been a challenge for some time. By contrast, New Zealand counterparties have, until recently, been largely immune from the effects of these rules. However, given the global nature of the OTC derivatives markets, and the dependency of local banks on offshore funding, that shelter was never going to last. We might have been permitted to play in the global OTC sandpit up until now, but the big boys get to set the rules. And, when they change them, your choices are to accept the new rules or find another sandpit to play in.
Corporate Reporter – Issue No. 46
Corporate Reporter - Issue No. 46
Glenn Joblin and Torrin Crowther, Partners | Thursday 29 June 2017
Welcome to Issue No. 46 of Corporate Reporter, Bell Gully's regular round-up of corporate and general commercial matters, designed to keep you informed on regulatory developments, legislation and cases of interest.
Bell Gully’s Takeovers Market Practice Report
Bell Gully's Takeovers Market Practice Report
James Cooney and James Gibson. Partners | Friday 23 June 2017
Bell Gully's Takeovers Market Practice Report is the first in-depth analysis of New Zealand takeovers data since the introduction of the Takeovers Code in 2001.
Should NZ recognise blockchain signatures and smart contracts in our Electronic Transactions Act?
The State of Arizona has passed a ground-breaking law confirming that smart contracts and blockchain-based signatures have the protection of its Electronic Transactions Act.1
Keeping the global spotlight on corruption
Keeping the global spotlight on corruption
Fiona Tregonning, Senior Associate | Tuesday 17 May 2016
The recent London Anti-Corruption Summit (the Summit) saw New Zealand agree to explore some new measures in support of global efforts against corruption. The Summit, attended by over 40 countries, has kept corruption and transparency issues in the spotlight at a time when the Panama Papers had just reinvigorated debate.
CCH New Zealand Budget Report 2016
CCH New Zealand Budget Report 2016
Mathew McKay, Partner | Thursday 26 May 2016
In conjunction with CCH, our tax team has analysed the implications of the changes and has produced a report providing an in-depth analysis of the Budget.
Concern over missing details as OECD targets tax base erosion and profit shifting
Concern over missing details as OECD targets tax base erosion and profit shifting
Graham Murray, Senior Associate and Mathew McKay, Partner | Friday 8 July 2016
Submissions on a new multilateral instrument (the MLI) to target tax base erosion and profit shifting (BEPS) call for further technical details to be released for public consultation and a relaxing of its tight implementation deadline.
Immigration – raising the bar and narrowing the gate
Immigration - raising the bar and narrowing the gate
Willy Sussman, Partner | Tuesday 11 October 2016
News headlines from around the world accentuate the desirability of living on a Pacific Island a long way from trouble, where one can enjoy economic prosperity, no corruption and a clean green environment. Housing, at least in Auckland, is not particularly affordable but a new mayor and a new Unitary Plan (allowing for greater intensification) may offer hope.
Hidden priorities – Statutory charges and the PPSA
Hidden priorities - Statutory charges and the PPSA
Tim Fitzgerald, Senior Associate | Tuesday 25 August 2015
When can first-ranking charges under the Personal Property Securities Act 1999 (PPSA) lose priority and come second?
A milestone for New Zealand arbitration
A milestone for New Zealand arbitration
Fiona Tregonning, Senior Associate | Tuesday 23 August 2016
This year marks 20 years since the passing of New Zealand’s Arbitration Act 1996 (the Act), based on the 1985 UNCITRAL Model Law and substantially overhauling New Zealand’s previous arbitration regime.
Court of Appeal upholds parties’ choice of law in cross-border employment relationship
Court of Appeal upholds parties' choice of law in cross-border employment relationship
Rachael Brown, Partner | Thursday 10 November 2016
Employers based overseas will be relieved to hear that their choice of law provisions with their New Zealand-based employees do hold weight with the New Zealand courts.
Corporate Reporter – Issue No. 43
Corporate Reporter - Issue No. 43
Glenn Joblin and Torrin Crowther, Partners | Wednesday 16 November 2016
Welcome to Issue No. 43 of Corporate Reporter, Bell Gully's regular round-up of corporate and general commercial matters, designed to keep you informed on regulatory developments, legislation and cases of interest.
Is relief in sight for offshore futures dealers from NZ client money rules?
Is relief in sight for offshore futures dealers from NZ client money rules?
David Craig, Partner | Wednesday 9 March 2016
Background
The client money rules in Part 6 of the Financial Markets Conduct Regulations 2014 (the Regulations) are something of an anomaly in New Zealand financial services law. Typically, that law recognises a wholesale/retail distinction – and regulates accordingly. That distinction has certainly been prominent in the re-write of New Zealand’s financial services laws that has occurred over the last eight years.
Part 6 is anomalous because it applies what are essentially retail-focused investor protection rules to trading activity with wholesale investors. For example, “derivatives issuers” (the label given to dealers subject to these rules) trading with wholesale investors must hold client money on trust for investors, must only use that money for specified purposes, and must meet various record keeping and reporting obligations.
Doing Business in New Zealand: a guide
Doing Business in New Zealand: a guide
Friday 1 April 2016
In response to demand from overseas investors and their professional advisers for information about investing in and trading with New Zealand, Bell Gully has produced a guide to doing business in New Zealand.
Ministers block Lochinver Station purchase – what it means for overseas investors
Ministers block Lochinver Station purchase – what it means for overseas investors
Glenn Shewan, Senior Associate | Friday 18 September 2015
The decision by Government Ministers Paula Bennett and Louise Upston to decline consent to the NZ$88 million bid by Chinese-owned Pure 100 Farm Ltd (Pure) to buy the Lochinver Station made national headlines yesterday.
COVID-19 Access to capital and financial reporting
Extreme times require extreme measures. Yesterday, the Financial Markets Authority (FMA) and the NZX announced regulatory relief measures due to the disruption caused by COVID-19. FMA's relief includes an additional two months for Financial Markets Conduct Act reporting entities (FMC reporting entities) to provide their audited financial statements. The NZX has provided similar relief for listed issuers and has also provided waivers to help ensure issuers are able to access sufficient equity capital urgently if needed. <For our full COVID-19 coverage, follow this URL: https://www.bellgully.com/publications/covid-19-updatesCOVID-19 Privacy in a pandemic
In an emergency like the COVID-19 pandemic, the tension between the maintenance of personal privacy and the good of the collective can come to a head. Information can be key to ensuring issues are properly addressed, however it is important to ensure that individual privacy rights are respected.Landmark Supreme Court decision confirms key aspects of NZ price fixing prohibition
For a copy of the full article, please click the following URL: https://www.bellgully.com/Shared%20Documents/A%20landmark%20Supreme%20Court%20decision%20has%20confirmed%20key%20aspects%20of%20the%20price%20fixing%20prohibition%20in%20New%20Zealand.pdfCOVID-19 Commerce Commission issues guidance but cartel risks remain
COVID-19 is affecting all businesses. Huge swings in demand (generally down, but in some cases up) and logistical challenges are looming large. For our full COVID-19 coverage, follow this URL: https://www.bellgully.com/publications/covid-19-updatesShould directors’ duties be suspended during the COVID-19 lockdown?
Key pointsCOVID-19 Epidemic notice and emergency powers – what do they mean for businesses and employers?
The declaration of a State of National Emergency on 25 March 2020 and issuance of an epidemic notice on 24 March 2020 have opened up a wide range of additional powers for government to enforce the restrictions it will impose under COVID-19 Alert Level 4. For our full COVID-19 coverage, follow this URL: https://www.bellgully.com/publications/covid-19-updates The declaration of a State of National Emergency on 25 March 2020 and issuance of an epidemic notice on 24 March 2020 have opened up a wide range of additional powers for government to enforce the restrictions it will impose under COVID-19 Alert Level 4. What do these new powers mean for businesses, employers and their people? A state of emergency gives legal weight to the obligation to cease conducting any business that does not amount to an essential service. Together, the announcements signal a range of other obligations to co-operate with medical officers, police and Civil Defence, and a need to be aware of the penalties for not doing so. The epidemic notice also activates a range of dormant provisions in the Immigration Act which allow the extension of existing temporary entry class visas and to give judges the ability to deal with immigration matters without requiring attendance. State of emergency The Civil Defence Emergency Management Act (CDEMA) sets out the powers that may be exercised following the declaration of a state of emergency in New Zealand. Most relevant to the obligation to cease conducting any business which does not amount to an “essential service", the CDEMA grants the following powers to the National Controller of Civil Defence Emergency Management, or to any Police constable:- The power to exclude persons from any premises or place, including any public place where they consider such exclusion is necessary for the preservation of human life.
- The power to break into any premises or place if they believe, on reasonable grounds, that that action is necessary for saving life, preventing injury, or removing endangered persons.
- The power to restrict public access to any public place.
- The power to direct any person to stop any activity that may substantially contribute to an emergency (e.g. working in non-essential services), or to request any person to take any action to prevent or limit the extent of the emergency.
- Imprisonment for a term not exceeding three months, or to a fine not exceeding NZ$5,000 (or both) an individual.
- A fine not exceeding NZ$50,000 for a body corporate.
- by order published in a newspaper or by announcement broadcast by a television channel or radio station that can be received by most households:
- require all premises within the district (or a stated area of the district) of any stated kind or description to be closed, and
- forbid people to congregate in outdoor places of amusement or recreation of any stated kind or description (whether public or private) within the district.
- does anything forbidden by a medical officer of health,
- fails or refuses to comply with, or delays complying with, a direction or requirement of a medical officer of health, or
- does, or delays ceasing to do, anything prohibited by a medical officer,
- commits an offence, and will be liable to a term of imprisonment not exceeding six months, or a fine not exceeding NZ$4,000 (or both).
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 to claim relief under contracts which do not have a force majeure provision.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.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.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-updatesThe 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-updatesImportant 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-updatesCOVID-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 uncertainty for future tax periods.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 has recently been played out in the High Court's decision in Ruscoe & Moore v Cryptopia Limited 2020 (in liquidation). This is a landmark decision, which considers the legal nature of cryptocurrencies for the first time in New Zealand.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 result of COVID-19 related issues.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.
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