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With the advent of Covid-19, a few aspects of the Government’s proposed overhaul of foreign investment law were expedited and passed into law under the Overseas Investment (Urgent Measures) Amendment Act 2020. One of the main drivers behind this Act was the desire to protect vulnerable New Zealand assets from being sold under “fire sales” to overseas buyers, while also giving due weight to the operation and viability of distressed businesses. Read More →
With the advent of Covid-19, a few aspects of the Government’s proposed overhaul of foreign investment law were expedited and passed into law under the Overseas Investment (Urgent Measures) Amendment Act 2020. One of the main drivers behind this Act was the desire to protect vulnerable New Zealand assets from being sold under “fire sales” to overseas buyers, while also giving due weight to the operation and viability of distressed businesses.
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We expect many businesses and individuals to be assessing the virus' impact on their contractual obligations, including whether the virus excuses a party from its contractual obligations under a force majeure clause or the doctrine of frustration.
The flow chart is a resource you can use to help you with that assessment.
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COVID-19. The Government’s response to corporate insolvency
05 April 2020 | By Liam Closey
05 April 2020 | By Liam Closey
On Friday, 3 April 2020, the New Zealand Government announced changes to the Companies Act 1993 (Companies Act) aimed at supporting New Zealand businesses through the COVID-19 epidemic. The changes in law are to be applied retrospectively from that Friday. In particular, the changes look to ease the pressure on businesses and directors facing solvency issues so as to avoid companies being placed into liquidation prematurely.
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COVID-19. The epidemic’s impact on New Zealand commercial leases
29 March 2020 | By Liam Closey
29 March 2020 | By Liam Closey
This is a general overview of some of the issues of the epidemic's impact on New Zealand commercial leases. It is not legal advice, which should be sought by landlords and tenants who have particular issues.
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Covid-19. Key employment law information and FAQs
26 March 2020 | By Duncan Coats
26 March 2020 | By Duncan Coats
This update provides employers with workplace law guidance in relation to key issues that may concern them regarding the outbreak and Alert Level 4.
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New Zealand is said to have the highest number of helicopters per capita in the world, which is quite staggering: about half of them operate in the tourism industry. So changes in ownership are a fact of life. Whether you are a buyer or a seller, you want to make sure that it is done correctly - both from operational and legal perspectives.
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So you heard all the hype about the EU’s new data privacy law, the General Data Protection Regulation and had good intentions to work out what it means for your business, but just like that the 25th of May came and went 2 months ago!
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UK Supreme Court upholds “no oral variation” clause
14 June 2018 | By Stephanie Nicolson
14 June 2018 | By Stephanie Nicolson
The United Kingdom Supreme Court has unanimously confirmed that “No Oral Variation” clauses are valid and enforceable in contract law...
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Privacy Bill vs GDPR
08 May 2018 | By Rick Shera
08 May 2018 | By Rick Shera
With this being Privacy Week in New Zealand, there being a New Zealand Privacy Bill in train, which would replace the current Privacy Act 1993, and now being only a couple of weeks away from 25 May 2918 on which the General Data Protection Regulation (GDPR) comes into force in the European Union, here's some very high level thoughts on what we might want to discuss when looking at our Bill ...
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The Digital After Life... of cryptocurrencies
06 March 2018 | By Rick Shera
06 March 2018 | By Rick Shera
A friend asked me the other day what she should do to make sure her cryptocurrency holding was dealt with properly if she died. She's way younger than me, but "you never know", she said. ...
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Let’s Do This!
Coalition Government announces employment law reforms
26 January 2018 | By Duncan Coats
26 January 2018 | By Duncan Coats