Asialaw Profiles
The Guide to the legal markets of the Asia-Pacific

Bell Gully has a “highly regarded banking practice”, says one client. This national powerhouse law firm has “a very good knowledge and understanding of the alternatives”, says the same client.

Partners Hugh Kettle and Murray King are “the heart and soul of the team”, says one competitor. They lead a practice that is highly praised for its work, “with clear suggestions on pros and cons options”.

Over the last 12 months, a highlight for the team was advising SKYCITY Entertainment Group on its US$331 million syndicated refinancing and US private placement. The Group, an entertainment and gaming business, sought to enhance its debt profile by negotiating new and extended flexible funding facilities on attractive terms.

The firm also advised Motor Trade Finances on its securitisation structure to ensure funding requirements were met after a shift in investor sentiment undermined previous funding sources. This was the first rated note issue from a securitisation trust in the New Zealand market since the global financial crisis.

Bell Gully provides “clear and concise corporate advising” and “finds alternative ways to reach outcomes on complex acquisition issues”, says one client.

Among this premier law firm’s highly regarded practitioners are Gary Downs, James Gibson, Gavin Macdonald and Anna Buchly, who are “some of the best in the business” says a competitor.

The mergers and acquisition team advised New Zealand building materials manufacturing and distribution company Fletcher Building on its successful US$830 million takeover offer for Australian building products company Crane Group.

The team also advised long time client Air New Zealand on the competition and structuring aspects of its US$156.6 million strategic acquisition of a 14.99% stake in Australian airline Virgin Blue Holdings.

Bell Gully has “very good construction law knowledge and understanding of the options”, says one client. The firm’s construction team is regarded by clients as “very good, responsive, commercially adept and able to advise on complex issues”.

Partners Jane Holland and Tom Bennett are referred to as “stewards of the team” and “definitely the practitioners that clients turn to”, says one rival law firm partner.

The firm advised the Department of Corrections on New Zealand’s first central Government Public Private Partnership (PPP) project. The Wiri Prison project, which is still in the procurement phase, will require the successful bidder to design, build, finance, maintain and operate a prison to accommodate 960 sentenced male prisoners in South Auckland.

“Bell Gully is a premier legal firm across the spectrum, and this includes in litigation work,” says a client. The firm’s innovative litigation team is described as being “aware of the goal and is able to apply itself to find a solution in the most complex matters”. It provides great depth and breadth of experience, and has the capacity and flexibility to deal with large and small matters alike in all areas of commercial, public and private law.

The firm’s large team of specialist commercial litigators is led by practice leader Ralph Simpson. “Ralph regularly appears as counsel on major commercial matters in the High Court and the Court of Appeal,” says one competitor.

Star partner Murray Tingey’s litigation and broader commercial expertise has been applied to the most significant insolvency matters in New Zealand in recent years, and he has “unparalleled expertise and experience in this area”, says a client.

Bell Gully is “one of the most knowledgeable firms and is always able to advise on complex issues”, says one client. Andrew Beatson has demonstrated an impressive showing in the resource management field while fellow partner Chris Gordon is “a leading individual in projects and resource management”, says a competitor. Together, they lead an impressive team with unmatched depth.

The Bell Gully team advised PricewaterhouseCoopers as receivers of Pike River Coal, which was the owner and operator of a mine that was affected by a series of major explosions that cost the lives of 29 miners. Another notable highlight for the team was advising domestic energy company TrustPower on its US$62.25 million unsecured, unsubordinated fixed rate senior bond issue.

Bell Gully’s Telecommunication, Media & Technology practice covers issues at the forefront of industry development and innovation. “It is the only firm in New Zealand that has a dedicated media practice,” says one rival lawyer.

Wellington-based partner Dean Oppenhuis is “strong in telecommunications work”, comments another rival partner.

The past year saw the Bell Gully team advise Crown Fibre on all the legal aspects of the New Zealand Government’s ultra-fast broadband (UFB) initiative. Crown Fibre is the Government’s investment vehicle for the UFB initiative, which involves US$1.25 billion of funding.

With Bell Gully’s market-leading corporate practice advising on most of New Zealand’s significant commercial transactions, its taxation team has been busy advising on the tax aspects of such transactions. This includes on mergers and acquisitions, various cross border transactions and funding arrangements.

The team acted for Alesco New Zealand in tax avoidance litigation regarding the use of optional convertible note (OCN) hybrid funding arrangements. It is also advising subsidiaries of a number of other Australian-listed companies on a dispute with the Commissioner of Inland Revenue over the use of OCN.

Yet another highlight was advising Crown Fibre Holdings (CFH) on all of the tax aspects of the New Zealand Government’s ultra-fast broadband (UFB) initiative, valued at US$1.08 billion.