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First judgment on whether a director “lives in” New Zealand

Written by Chris Lee, Erich Bachmann, Kate Telford and Bill Walsh on July 25th, 2016.

Background

Since 1 April 2015, New Zealand companies have been required to have at least one director who:
 
  • lives in New Zealand; or
  • lives in Australia and is also the director of an Australian company (excluding a branch),
(for the remainder of this article, we’ll call this the “Residency Requirement”).
 
 

"Hallelujah, I'm free!" Exiting a multi-owner SME - the importance of a Shareholders' Agreement

Written by Chris Lee and Bill Walsh on July 19th, 2016.

As Diane Foreman recently commented, a business can provide two sources of incomes – the 1st while you’re working in it and the 2nd when you sell up...............written by Chris Lee and Bill Walsh
 

New Director and Disclosure Requirements for New Zealand Companies

Written by Kate Telford, Julika Wahlmann-Smith and Bill Walsh on April 24th, 2015.

New director residency requirements are about to be introduced for all New Zealand Companies.  These changes come into effect on 1 May 2015, with all existing companies having an additional 180 days to comply with the new requirements (so by 28 October 2015).
 
 

Alternate Directors - A Practical Solution

Written by Sarah Gibbs on July 17th, 2014.

A director may appoint an alternate director to act as their substitute during periods when the director is unavailable or absent.  The idea of an alternate director is basically to ensure the continuous appointment of a director so that company operations are not halted by the absence of a director.  As such, the appointment of alternate directors can provide a practical solution for companies with a sole director or companies with directors who travel often or are otherwise unavailable or absent from time to time.  
 
This article provides a brief summary of the appointment and function of alternate directors in a company.  Could appointing an alternate director be a sensible option for your company?
 
 

Supply agreements, the things you should know before signing

Written by Julika Wahlmann-Smith and Ben Lloyd on April 11th, 2014.

Supply agreements (rather than informal arrangements) are becoming increasingly common in today's business world, particularly in the restaurant industry.  But how well do you know your supply agreements?
 
 

100% PURE NEW ZEALAND

Written by Julika Wahlmann-Smith on August 11th, 2013.

Authors: Julika Wahlmann-Smith & Libby Ryan, Hesketh Henry
Not all claims in advertising are meant to be taken literally. However, when they are, they may be open to challenge as Tourism New Zealand has recently found out. Tourism New Zealand’s “100% Pure New Zealand” campaign has recently come under fire both internationally and locally, including a claim being brought before the New Zealand Advertising Standards Authority (“ASA”).
 

PPSA Pointer – Update Debtor's Name Change or Lose Priority

Written by Sarah Gibbs on March 11th, 2013.

For a secured party to retain the priority of their registration on the Personal Property Securities Register (PPSR), they must keep their financing statement up to date with all the information that they are aware of, including a change of the debtor's name.
 

Your 'How-To' guide to Directors' duties

Written by Sarah Gibbs on February 11th, 2013.

By Sarah Gibbs, Senior Solicitor and Taryn Doherty, Solicitor
The recent slew of high profile cases involving directors of failed finance companies highlights the need for all current and would-be directors to understand and sufficiently perform their directors' duties. This article provides a snapshot of directors’ duties under the Companies Act 1993 (the "Act") and a practical guide on how these can be satisfied.
 
 

Planning - Where is Your Business Heading?

Written by Sarah Gibbs on February 11th, 2013.

Successfully positioning your business for the future in terms of growth, succession or exit is crucially important for all businesses regardless of size or stage in the business life cycle. Without planning, business owners assume significant financial risk that translates into missed opportunities, wasted potential and an inability to transition ownership or maximise price upon sale. So, what's your plan?
 
 

Changes to Company and Director Information Requirements – Will they affect your company?

Written by Sarah Gibbs on February 11th, 2013.

The Companies and Limited Partnership Amendment Bill ("Bill") proposes key changes to company director requirements which may affect up to 4,200 companies. This article outlines some key changes which may apply to your company.
 
 

Gambling on Sponsorship

Written by Julika Wahlmann-Smith on August 11th, 2012.

New Zealand's size and geographical proximity to Australia has resulted in a number of trans-Tasman sporting events. This trans-Tasman rivalry offers fantastic visibility opportunities for sponsors in two jurisdictions rather than one.
 

Completing the Deal

Written by Kate Telford on August 11th, 2012.

This article explains some of the key steps involved in "getting deals done" in the current economic climate, particularly where there is a need (which is often the case) to fill the gap between what a owner wants for their business and what a purchaser is willing to pay.
 

Better understanding leads to more effective law

Written by Erich Bachmann on November 11th, 2008.

Lawyers need to have a greater understanding of a client’s business if they are to continue to play a key advisory role in their affairs. “Knowing the law isn’t enough any more,” says Hesketh Henry Managing Partner, Erich Bachmann.
 
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