Welcome to the final edition of Buddle Findlay's insolvency and restructuring update for 2025. As we head towards the silly season and a well-deserved break for many, it's an opportunity to reflect on what has been a very busy year in the insolvency and restructuring space.
Welcome to the latest edition of Buddle Findlay’s insolvency update. It comes against the background of an economy that remains under stress. Unemployment is the highest it has been since the depths of Covid-19, and many businesses are struggling with tax payments. There is more than NZ$1.4b owed to the IRD in unpaid GST and PAYE from the 2025 tax year, and that's just a small part of the approximately NZ$8b the IRD is now chasing.
In a judgment issued yesterday (Francis v Gross [2024] NZCA 528), the Court of Appeal unanimously overturned the controversial High Court decision in Francis v Gross [2023] NZHC 1107 and held that purchasers of partly constructed modular buildings (pods) did not have equitable liens (at all, and especially not in priority to secured creditors) over those pods.
Matthew Czyzyk, Natalie Blanc, Natalie Raine and Emily Ma, Ropes & Gray
This is an extract from the 2024 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.
Mark Fine, Usman Khan and Sunay Radia, McDermott Will & Emery
This is an extract from the 2024 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.
Amar Meher, Addleshaw Goddard LLP
This is an extract from the 2024 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.
This is an Insight article, written by a selected partner as part of GRR's co-published content. Read more on Insight
Alexandros Kontogeorgiou and Georgia Papathanasiou, Kontogeorgiou Bakopanou & Associates Law Firm
This is an extract from the 2024 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.
Alexander Vogel and Marc Baumberger, MLL Legal
This is an extract from the 2024 edition of GRR's Europe, Middle East and Africa Restructuring Review. The whole publication is available here.
Gregg Galardi, Matthew Czyzyk, Natalie Blanc and Emily Ma, Ropes & Gray
This is an extract from the 2024 edition of GRR's the Americas Restructuring Review. The whole publication is available here.
Richard J Cooper, Lisa M Schweitzer and Richard C Minott, Cleary Gottlieb Steen & Hamilton
This is an extract from the 2024 edition of GRR's the Americas Restructuring Review. The whole publication is available here.