Regional news: New Zealand

Investors lose joint Australia-New Zealand appeal over commingled assets

Investors in collapsed Antipodean stockbroker Halifax have failed to overturn complementary court decisions in Australia and New Zealand over the distribution of the group’s commingled assets, after appeal courts in both jurisdictions sat in another ground-breaking joint hearing.

27 October 2021

Parallel directions issued in first for Australian and New Zealand courts

The liquidators of an investment manager’s Australian and New Zealand arms have secured parallel distribution directions following the first ever joint hearings between courts in each jurisdiction.

01 June 2021

New Zealand’s insolvent trading laws under fire in Mainzeal appeal decision

Directors of New Zealand construction company Mainzeal, including a former prime minister, have failed to escape liability for breaches of their duties before its collapse, despite an appeal court overturning a compensation award for reckless trading.

07 April 2021

Russian bank’s liquidator circumvents hurdles to execute English judgment in the BVI

The liquidator of a defunct Russian bank that has been trying to claw back assets from its founder, has secured recognition of an English court’s judgment in the British Virgin Islands against a trio of hurdles – bringing him a step closer to accessing property held in a New Zealand trust.

28 January 2021

Alvarez & Marsal, Mayer Brown and Chapman Tripp announce promotions

Mayer Brown has promoted partners in London and Singapore, while Alvarez & Marsal has appointed a new restructuring co-head in North America and New Zealand firm Chapman Tripp has announced a new special counsel.

20 November 2020

New Zealand court agrees to consider Chinese judgment's enforcement

A New Zealand judge has dismissed arguments that Chinese courts are not “true” courts, allowing a power station operator to proceed with enforcing a Chinese judgment debt locally.

13 November 2020

Wirecard sells assets in UK, Brazil and Germany

Scandal-hit payment processor Wirecard has agreed to sell assets in the UK, Brazil and Germany, while a Munich court has accepted its parent’s administration filing and insolvency proceedings continue in Australia and New Zealand.

01 September 2020

NZ High Court restrains Chinese director’s bankruptcy pending directors’ duties appeal

The High Court of New Zealand has halted a bankruptcy application against a Chinese former director of local construction company Mainzeal, pending his appeal of a multi-million dollar breach of duties judgment.

17 July 2020

Australian court allows Colette administrators to hold off rent payments

The administrators of Australian fashion retail group Colette have been relieved from paying landlords for a period, after the Federal Court of Australia found the covid-19 pandemic had created “extraordinary” circumstances.

21 April 2020

DLA Piper promotes in New Zealand

DLA Piper has promoted the co-leader of its New Zealand restructuring and insolvency practice to partner.

02 August 2019

Unlock unlimited access to all Global Restructuring Review content