Firms To Watch: Restructuring and insolvency

Led by Ben Russell, James Cochrane, and Evelyn Jones, the growing restructuring and insolvency practice at Lane Neave advises directors, insolvency practitioner, and business stakeholders in distressed situations, with particular expertise in contentious settings.

Restructuring and insolvency in New Zealand

Buddle Findlay

With ‘some of the best legal practitioners in the country’, Buddle Findlay boasts specialists in insolvency, debt restructuring, litigation, and liquidation. The firm advises the full range of players in the sector, including administrators, liquidators, and receivers. Scott Abel, ‘one of the brightest insolvency lawyers’, and Scott Barker, an experienced litigator, jointly lead the team. David Broadmore advises on debt recovery and insolvency matters, while Myles O’Brien is knowledgeable in distressed debt solutions. Bridie McKinnon is another notable member of the department with expertise in disputes and arbitrations concerning trust and estates. In December 2023, David Perry retired from the partnership and took on a consultancy role at the firm.

Praxisleiter:

Scott Abel; Scott Barker


Weitere Kernanwälte:

Myles O’Brien; David Broadmore; Bridie McKinnon


Referenzen

‘Very deep experience and expertise.’

‘Some of the best legal practitioners in the country.’

‘Scott Abel is one of the brightest insolvency lawyers and exceptional with detail.’

Kernmandanten

Bank of New Zealand


ANZ Bank New Zealand Limited


Calibre Partners


PwC


McGrathNicol


Grant Thornton


Ecovis KGA Limited


Reserve Bank of New Zealand


FTI Consulting


BDO


Highlight-Mandate


  • Advising PwC as liquidators of Ruapehu Alpine Lifts Limited, which runs the Whakapapa and Turoa ski fields on Mt Ruapehu, the largest ski fields in the North Island of New Zealand.
  • Advising Grant Thornton as liquidators of Cryptopia, a Christchurch crypto currency exchange that collapsed into liquidation in 2019 after a cyber attack.
  • Advising Ayers Alliance Financial Group Limited (In Administration), a Cyprus based company as a contingent creditor of Mars Cap Limited (in liquidation).

Chapman Tripp

Chapman Tripp supports clients through their matters from the outset of distressed situations, advising on debt restructuring, voluntary administrations, distressed transactions, and litigation. The firm is instructed by directors, creditors, receives, liquidators, and administrators. Michael Harper, well-versed in voluntary administrations, and Michael Arthur, experienced in contentious matters, are the heads of the practice. Within the team, Mark Reese advises creditors and receivers, while Janko Marcetic assists receivers, directors, and interim liquidators with their matters.

Praxisleiter:

Michael Harper; Michael Arthur


Weitere Kernanwälte:

Janko Marcetic; Mark Reese


Referenzen

‘Depth of experience in advising on complex restructuring assignments.’

‘Seeks a consensual restructuring to avoid insolvency – a highly valued quality by clients.’

‘Michael Harper provides a collaborative approach to solving a problem, is easy to work with and is very well respected in the market so views carry weight in negotiations.’

Kernmandanten

Calibre Partners


Crown Regional Holdings Limited


Vincent Capital Limited


Commonwealth Bank of Australia


Former directors of Mainzeal Property & Construction Limited


Director of Mars Cap Limited


Highlight-Mandate


  • Advising the Crown on its position as the secured creditor in the voluntary administration, liquidation, and receivership of Ruapehu Alpine Lifts Limited.
  • Assisting the receivers with obtaining recognition orders in Guernsey to allow them to secure and deal with Pyne Holdings’ shareholding in Pyne Gould Corporation, a Guernsey-registered company.
  • Acting for four of the former directors of Mainzeal Property & Construction Limited (in receivership and liquidation).

Russell McVeagh

‘Renowned for its thorough approach’, Russell McVeagh supports clients through insolvency processes, enforcement proceedings, debt restructuring, and derivatives actions, including debt recovery. The firm advises on the particularly active development and construction industries, as well as the hospitality and retail sectors. ‘At the top of his game’, practice head Matt Kersey is frequently instructed on cross-border insolvencies. Kirsten Massey brings experience advising on insolvency matters in the UK. Other key members of the practice include the ‘superb’ Alex MacDuff, who advises on debt restructuring and administrations, and Jeremy Upson. Polly Pope left the firm in December 2023 for the independent Bar.

Praxisleiter:

Matt Kersey


Weitere Kernanwälte:

Kirsten Massey; Alex MacDuff; Jeremy Upson


Referenzen

‘Russell McVeagh R&I is renown for its thorough approach and determination to get the best result for its clients.’

‘Matt Kersey is probably the number one leading R&I litigator in a firm in New Zealand. He is an excellent strategic thinker.’

‘Alex MacDuff is a rising star in this area.’

Kernmandanten

ANZ Bank New Zealand Limited


Westpac New Zealand Limited


Calibre Partners


PricewaterhouseCoopers


KPMG


Olvera Advisers


McGrathNicol


Qualitas


Grant Thornton


Accolade Wines Australia Limited


Highlight-Mandate


  • Acting for Hall Chadwick, as voluntary administrators of Probis Financial Services Pty Ltd, in the liquidation of Mars Cap Ltd.
  • Advising ANZ as senior lender to Ruapehu Alpine Lifts, a nationally significant tourism business operating the Whakapapa and Turoa ski-fields, on the proposed debt restructuring via voluntary administration.
  • Advising Accolade Wines on their cross-border restructure.

Simpson Grierson

The team at Simpson Grierson contains dedicated restructuring and insolvency specialists who are highly capable of covering the gamut of corporate stress. The firm’s expertise includes security enforcement, distressed debt trading, and restructuring investment, as well as cross-border insolvency assistance. The team is led by Wellington-based Josh Cairns, a cross-border insolvency expert, and James Caird in Auckland, who focuses on complex debt restructurings. Steve Flynn is well-versed in restructuring and insolvencies in a corporate context, while Ben Upton is also noted for his work as an insolvency litigator.

Praxisleiter:

Josh Cairns; James Caird


Weitere Kernanwälte:

Steve Flynn; Ben Upton


Referenzen

‘Provides commercial, pragmatic advice on complex matters. Understands the risk appetite of its client. Very personable team.’

‘Josh Cairns and Steve Flynn are, pragmatic, understand our needs quickly, understand the risk appetite for the work we do and are personable.’

‘We found the firm to have a pragmatic, commercial and positive approach.’

Kernmandanten

Westpac


Calibre Partners


PwC


ASB Bank


McGrathNicol


KPMG


Bank of New Zealand


BDO


Heartland Bank


Grant Thornton


Deloitte


Arena Investors


EY Cayman Limited


Michael Li & Co, Hong Kong


Highlight-Mandate


  • Advised on Arena Investors on the Arena-led pre-packaged restructuring of the Optic Security Group through a concurrent voluntary administration and receivership.
  • Advised on the receivership of the ELE Group of Companies, a business with over 1,000 employees.
  • Represented Westpac in the proceedings against New Dawn Holdings Limited and its guarantor.

Anthony Harper

Spread between Auckland and Christchurch, the team at Anthony Harper assists receivers, liquidators, and administrators on a wide range of matters, including terms of appointment, security prioritisation, director liability, and assets sales. The firm is also well-versed in corporate recovery and insolvency litigation. The practice is overseen by Crispin Vinnell, who is experienced advising banks, finance companies, chartered accountants, and insolvency practitioners. Dan Hughes and Lynne Van are seasoned insolvency litigators within the team. Making partner in November 2023, Chloe Jolliffe supports clients in their corporate recovery matters.

Praxisleiter:

Crispin Vinnell


Weitere Kernanwälte:

Lynne Van; Dan Hughes; Chloe Jolliffe


Referenzen

‘Extremely client focused – understand the pressures and strains of insolvency work.’

‘A well connected team who are well respected in the NZ market.’

‘Crispin Vinnell is a leading insolvency and restructuring lawyer in New Zealand; his Christchurch based team are excellent to deal with.’

Kernmandanten

McGrathNicol


Avior Consulting Pty Ltd


VinLink Marlborough Ltd


Cor Cordis Pty Ltd


Southbase Construction Ltd


PKF Corporate Recovery and Insolvency (Auckland) Ltd


EY


Rodgers Reidy


Grant Thornton


ASB Bank


Reforma Limited


Highlight-Mandate


  • Acted for the liquidators of CBL Insurance Limited in a claim against the directors and advisors of the company in respect of losses claimed at no less than $320m.
  • Acted for the liquidators of Intercivil Limited (in Liquidation) in respect of a $13m claim against the former directors for breach of duty.
  • Acting for the liquidators of a related group of companies that traded under the umbrella name of “Sunbow”.

Bell Gully

Bell Gully advises on contentious and non-contentious matters for banks, accounting firms, and receivers. The firm is also well-versed in liquidation settings. Leading the team, Tim Fitzgerald advises on restructurings, enforcement disputes, and debt recovery. David McPherson’s work includes distressed debt acquisitions and receiverships, while Sarah Anderson-Butler supports financial institutions, non-bank lenders, and receivers in international contexts. Daniel Vizor regularly aids clients in liquidations and voluntary administrations.

Praxisleiter:

Tim Fitzgerald


Weitere Kernanwälte:

David McPherson; Sarah Anderson-Butler; Daniel Vizor


Referenzen

‘Depth of experience and broad client base means they have acted for parties on all sides of a restructuring or insolvency.’

‘David McPherson shepherds organisations through successful restructuring processes.’

Kernmandanten

PwC


ANZ Bank New Zealand Limited


Calibre Partners


McGrath Nicol


KPMG


ASB Bank


BNZ


Grant Thornton


BDO


Ferrier Hodgson


IFM Investors


Highlight-Mandate


  • Acting for PwC as liquidators of NF Global Limited (in liquidation), which operated an online international funds transfer platform.
  • Acting for the secured lender and receiver of Austino Parkside Limited (in liquidation and in receivership), an insolvent property developer.
  • Acting for the secured lender and receiver of CDF Wealth Limited (in receivership), an insolvent property developer.

Dentons New Zealand

Dentons New Zealand advises on structuring and restructuring matters for both shareholders and directors. The firm’s broader expertise includes director liability, appointments, creditor claims, and cross-border issues. James McMillan heads the team, regularly supporting banks, insolvency practitioners, and directors. David Shillson is an experienced restructuring practitioner, acting in matters in the construction sector. Liz Lim supports borrowers, lenders and corporate trustees, while Patrick Glennie is noted within the team for frequently acting on liquidation matters.

Praxisleiter:

James McMillan


Weitere Kernanwälte:

David Shillson; Liz Lim; Patrick Glennie


Referenzen

‘The Dentons insolvency practice are friendly and professional but they have the backbone and firm hand you need when dealing with a high stress insolvency situation.’

‘Junior staff are responsive, careful and diligent.’

‘Overall, an outstanding firm to work with on high-intensity situations. ’

Kernmandanten

PwC


Deloitte


Ruapehu Skifields Stakeholders Association


ANZ Bank New Zealand Limited


HSBC


Heartland Bank Limited


IBC Japan Limited


BWA Insolvency Limited


Warwick Jones


Highlight-Mandate


  • Advised PwC on all aspects of the administration of Supie, an online grocery retailer, including claims to (often perishable) stock, as well as bringing the relevant watershed meetings forward.
  • Assisted Ruapehu Skifields Stakeholders Association with presenting a deed of company arrangement and navigating the legal aspects of the administration Ruapehu Aline Lifts, including the watershed meeting.

DLA Piper New Zealand

With the ability to draw on experts across the globe, DLA Piper New Zealand is experienced in supporting clients with cross-border insolvencies. The firm is also regularly instructed by insolvency practitioners, banks, and secured creditors within New Zealand on domestic matters. Michael Thompson, advising on distressed financing restructures and directors’ duties, co-heads the team alongside Iain Thain, a seasoned liquidation advisor. Rachel Brown supports clients with their disposals of interests in distressed situations. In December 2023, Alicia Murray left the firm.

Praxisleiter:

Michael Thompson; Iain Thain


Weitere Kernanwälte:

Rachel Brown


Referenzen

‘DLA are a great balanced team, very enjoyable to work with and very responsive.’

‘Michael Thompson is engaged, proactive and very sound technically.’

‘Highly responsive and capable. Excellent advice on extremely complex and high-stake matters.’

Kernmandanten

Liquidators of CBL Insurance Limited


Accountholders in Cryptopia Ltd


WestCity NZ Pty Ltd


Highlight-Mandate


  • Acted for the liquidators of CBL Insurance Limited in proceedings against a major creditor, Alpha Insurance Limited, seeking to set aside transactions entered shortly before CBL Insurance Limited was put into liquidation.
  • Acted for a group of accountholders in Cryptopia Limited.
  • Assisted WestCity NZ Pty Ltd and WestCity NZ Nominees Ltd, the owner of WestCity Waitākere Mall, with debt recovery and insolvency legal services.

MinterEllisonRuddWatts

MinterEllisonRuddWatts brings experience in handling distressed situations for clients across a range of industries, including agribusiness, construction, energy, mining, health, and crypto. The firm is regularly approached by bank and insolvency practitioners for domestic and international matters. Based in Auckland, security enforcement expert Sean Gollin and Michael Langdon, who is well-versed in cross-border matters, spearhead the group. Richard Gordon advises trading banks on debt recovery, while Charlotte Carey is experienced in litigation surrounding restructuring and insolvencies.

Praxisleiter:

Sean Gollin; Michael Langdon


Weitere Kernanwälte:

Richard Gordon; Charlotte Carey


Referenzen

‘Good cross over between commercial and dispute resolution disciplines in restructuring.’

‘Strong mid-market position.’

‘Michael Langdon is a good communicator, easy to work with.’

Kernmandanten

ANZ


ASB


BNZ


Westpac


Rabobank


HSBC


PwC


Deloitte


KPMG


BDO


KordaMentha


Grant Thornton


LPF Group Limited


Highlight-Mandate


  • Acting for the liquidators of Mainzeal in proceedings brought against its former directors for breach of directors’ duties.
  • Acting for PwC, in relation to the receivership of a large early childhood education business.
  • Advising Grant Thornton on the liquidation of Mapei New Zealand.

TWA Legal Limited

TWA Legal Limited is a boutique restructuring and insolvency firm, supporting secured and unsecured creditors, distressed borrowers, insolvency practitioners, and directors. Jennifer Tunna is a co-head of the practice, with particular experience advising on asset sales in distressed situations. Fellow co-head Kerry Puddle specialises in litigation. Mike Whale is regarded as a ‘go-to expert when technical issues are faced’, and Michael Anderson is experienced in advising clients on debt issues and managed funds.

Praxisleiter:

Jennifer Tunna; Kerry Puddle


Weitere Kernanwälte:

Mike Whale; Michael Anderson


Referenzen

‘Genuine insolvency expertise.’

‘Jennifer Tunna, Mike Whale, Mike Anderson, Kerry Puddle all possess a wealth of experience in the restructuring, insolvency and dispute resolution space.’

‘Great personal care and attention.’

Kernmandanten

Deloitte


McGrathNicol


BDO Tauranga


McDonald Vague


PKF Corporate Recovery & Insolvency


Khov Jones


Highlight-Mandate