"Mayne Wetherell's combination of leading partners across multiple disciplines and the ability for all of their expertise to be accessed from our perspective" is one of the reasons clients really appreciate the team.The team advised Commonwealth Bank of Australia and Westpac Banking in the NZ$400 million ($325....
[more]
"Mayne Wetherell's combination of leading partners across multiple disciplines and the ability for all of their expertise to be accessed from our perspective" is one of the reasons clients really appreciate the team.
The team advised Commonwealth Bank of Australia and Westpac Banking in the NZ$400 million ($325.2 million) restructuring of Motor Trade Finances' automotive loan and automotive lease receivable securitisation programme. This is the first major automotive securitisation programme since the global financial crisis.
Another notable highlight saw the team successfully advising NZF Homeloans on the establishment of the NZF bond issuance trust and the issue of NZ$100 million of notes.
[hide]
Mayne Wetherell is "a top banking and finance firm, one of the best in New Zealand", according to one client. The team's "excellent banking and finance skills" are praised by clients as "the very highest standard in the practice....
[more]
Mayne Wetherell is "a top banking and finance firm, one of the best in New Zealand", according to one client. The team's "excellent banking and finance skills" are praised by clients as "the very highest standard in the practice."
The firm has two clear banking stars in Will Tipping, "an up and coming pillar to the New Zealand market and certainly a great lawyer", according to one peer, and Dave Wetherell, who is described as "a great practitioner and certainly a worthy work horse", by another.
The team acted for Bank of New Zealand and Westpac in respect to the NZ$200 million ($163 million) standby facility for Combined Building Society. This formed part of the merger of Marac Finance with Southern Cross Building Society and Canterbury Building Society.
Another highlight saw the team act for 2degrees, the new mobile telecommunications company in New Zealand, in relation to project financing to fund the expansion of its mobile network. The successful financing will allow 2degrees, which has quickly developed market share in the New Zealand mobile telecommunications market, mount a strong challenge to the two large incumbents.
[hide]
"Mayne Wetherell is starting to win significant projects off the back of the excellent reputation it has built in recent years for its commercial acumen," says a rival partner.The past year saw the team advising Deutsche Bank on the 49....
[more]
"Mayne Wetherell is starting to win significant projects off the back of the excellent reputation it has built in recent years for its commercial acumen," says a rival partner.
The past year saw the team advising Deutsche Bank on the 49.9% investment by Deutsche New Zealand and its strategic alliance with Craigs Investment Partners. This transaction was particularly complicated and involved not only the creation of extensive shareholding arrangements but the implementation of the sophisticated financial services provided by both parties at a time of increasing financial services regulation in New Zealand.
Another highlight was Acted for Rings Scenic Tours Limited on its joint venture arrangements with Sir Peter Jackson's Wingnut Films Productions Limited in relation to the development of a major tourism operation at the Hobbit movie set in Matamata.
[hide]
Mayne Wetherell "would be our preferred New Zealand counsel", says a client. The team's "commercial, practical, no-nonsense in approach and clear communication with clients, peers and counterparts" are attributes which clients consistently endorse....
[more]
Mayne Wetherell "would be our preferred New Zealand counsel", says a client. The team's "commercial, practical, no-nonsense in approach and clear communication with clients, peers and counterparts" are attributes which clients consistently endorse.
The team "were technically strong in a setting where much of what they were doing had not previously been done in New Zealand." Another client adds: "Partners involved thought through key issues and were generally well reasoned and practical in their application of the law to the situation at hand" and "were able to draw upon international precedent and apply that to the New Zealand legal framework."
The team acted for the Bank of New Zealand as a senior agent and the senior syndicate in relation to the debt for equity restructure of Yellow Pages Group (YPG). The complex transaction ended with the senior creditors taking full ownership of the business. YPG had been the subject of the most highly leveraged acquisition in Australasian history in April 2007.
A debt of over $1billion at the time was written off as part of the restructure. The team used an innovative method to implement the restructure, believed to be a world first, which allowed the banking syndicate to take ownership of the business outside of any court scheme or formal insolvency process.
Continuing the fine relationship with Bank of New Zealand, the team once again acted as a senior agent and the senior syndicate to the GR Media group of companies (TV3 and RadioWorks), negotiating deferred spectrum payment and security arrangements with the government, part of the restructure, which was effected in December 2009.
[hide]