Key considerations for employee share schemes
Key considerations for employee share schemes
03 April 2014 | By  Andrew Wallace
Employee share schemes can be a great way to attract, retain and incentivise staff. They haven’t been widely used in New Zealand, with a big part of the problem being that the rules you need to comply with to offer one make doing so impractical and, in a lot of cases, also undesirable. On 1 April those rules got completely overhauled.
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Director’s Personal Liability for Unsafe Vessel Ops
Director’s Personal Liability for Unsafe Vessel Ops
03 April 2014 | By  Karl Stolberger
Maritime New Zealand v AZ1 Enterprises Ltd and G.M. Davis –Karetai [2014] NZDC We note this case principally as a reminder that those sitting back in the office are not immune from prosecution and can’t, as it were, hide behind the corporate shield where vessels are known to be carrying out unsafe operations...
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Customs Appeals:  Compliance with time limits – a hard lesson
Customs Appeals: Compliance with time limits – a hard lesson
03 April 2014 | By  Karl Stolberger
An Airline v Chief Executive of the New Zealand Customs Service [2014] NZCAA 9 An unnamed airline imported a number of used leased A320 aircraft into New Zealand. Duty was payable on importation. The case related to the correct method of valuing the aircraft on importation for duty calculation purposes. At issue was duty of around $14 million...
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Financial Markets Conduct Act
Financial Markets Conduct Act
02 April 2014 | By  Michael Busch  | Andrew Wallace
On 1 April the first phase of the Financial Markets Conduct Act reforms came into effect. Included in this phase are legislative changes facilitating...
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Five steps to getting the icing on the cake
Five steps to getting the icing on the cake
11 March 2014 | By  Andrew Wallace
You’ve been negotiating the sale of your business and while you’re confident that it’s going to continue to grow as you’re projecting, the buyer just isn’t sure and you’re too far apart on price to reach agreement...
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Directors’ defence  insurance cut down by Supreme Court
Directors’ defence insurance cut down by Supreme Court
13 February 2014 | By  Karl Stolberger  | Stephanie Nicolson
A recent Supreme Court ruling significantly impacts on the operation of Directors’ and Officers’ (D&O) insurance policies, and indeed any other insurances, which have a combined single limit of liability for compensation and defence costs...
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Clampdown on longstanding exemption for charities
Clampdown on longstanding exemption for charities
04 February 2014 | By  Andrew Wallace
For most not-for-profits (NFPs), fundraising is a significant challenge. The Financial Markets Authority (FMA) has recently undertaken consultation on certain long-standing exemptions from our securities laws in the area and last month put its proposals into effect with the issuance of two new exemption notices...
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Directors, D&O Cover and Defence Costs – The Supreme Court’s Final Word
Directors, D&O Cover and Defence Costs – The Supreme Court’s Final Word
30 January 2014 | By  Karl Stolberger  | Stephanie Nicolson
In June last year we commented on on-going litigation between the Receivers of various Bridgecorp companies and their directors in relation to a $20 million D&O insurance policy. At issue was the Receivers’ ability to assert a charge over the proceeds of the policy in favour of Bridgecorp’s investor creditors...
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Lowdown - Summer 2013
Lowdown - Summer 2013
18 December 2013 | By  Lowndes Jordan
Welcome to the 2013 Summer edition of Lowdown. This edition covers critical Law Changes in force as well as ...
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Updated: Harmful Digital Communications Bill
Updated: Harmful Digital Communications Bill
12 December 2013 | By  Rick Shera
The Harmful Digital Communications Bill would set up an Approved Agency to try, by “negotiation, mediation and persuasion” to deal with harmful material which is posted online..
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The devil’s in the details: validity of financing statements
The devil’s in the details: validity of financing statements
11 December 2013 | By  Rachael Cederwall  | 
In a recent decision, Polymers International Ltd v Toon [2013] NZHC 1897, the High Court held that, when registering a financing statement against a debtor company on the Personal Property Securities Register, the omission of the company number from the financing statement was seriously misleading...
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New Zealand Business Numbers
New Zealand Business Numbers
10 December 2013 | By  Valerie Rey
All companies currently registered in New Zealand have now been assigned a New Zealand Business Number (NZBN)...
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