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

“We have used Chapman Tripp for 20 years for its excellent banking work, technical skill and very current market knowledge,” says one client. A competitor says the team “deserves its top tier status” for continued excellence.

A notable highlight for the team was advising Bank of New Zealand, Commonwealth Bank of Australia and Bank of Tokyo Mitsubishi UFJ on unsecured bilateral facilities totalling NZ$414 million (US$340 million) to Genesis Energy. This complex transaction included an agreement among lenders and a hybrid deal model between a bilateral and a syndicated lending structure.

The team ended the year advising ANZ Banking Group in its refinancing of dairy firm Synlait Milk, following an equity investment by one of China’s largest dairy companies Shanghai-based Bright Dairy. This US$134.2 million investment was settled following approval from the Chinese Government and the fulfilment of all regulatory conditions.

“Chapman Tripp’s depth of expertise and experience is unparalleled in the New Zealand market,” says one client. The firm retains its top tier position after another busy year, with client commenting: “I like the fact that the team provides thoughtful bespoke solutions and not a one-answer-fits-all suggestion.”

Last year’s deal highlights included advising on the merger of MARAC Finance, Canterbury Building Society and Southern Cross Building Society to form a US$1.83 billion financial services group that is New Zealand’s only listed registered bank.

Another notable highlight was advising AMP on its acquisition of AXA Asia Pacific Holdings (AXA APH). This transaction was part of a two-step transaction involving a scheme of arrangement to allow the merger of AMP and AXA APH, followed by a sale to AXA by AMP of AXA APH’s Asian assets. The merger brought together two of Australia’s longest standing businesses.

“The Chapman Tripp construction team has always given innovative advice and been conservative when the situation dictates this approach,” says one client.

Despite the impact on the New Zealand legal market of the two recent major earthquakes, the lingering impact of the global credit crisis, and the retirement of partner and team leader Robert Parker, the firm’s construction and real estate practice has remained strong.

The excellent work of Auckland-based partner Matthew Carroll and Wellington based partner Matthew Yarnell “reflects the standard of advice and service across the firm”, says one client.

The firm advised Telecom New Zealand on a US$83 million building design and lease agreement for 19,000 sqm of office accommodation in central Wellington. This transaction required the building to be built in accordance with environmentally sustainable design principles to achieve a five-star design rating under the New Zealand Green Building Council Standard.

Chapman Tripp retains its position following another strong year as one of the most popular choices for dispute resolution among bank and asset management companies. “The firm’s capabilities are solid, and we have instructed both its Wellington and Auckland offices,” says a client.

Practice leader Jack Hodder leads a solid team that has a truly national reach. Partner Michael Arthur has “a solid track record in resolving disputes in the courts”, before tribunals, and in formal and informal negotiations. Not to be overlooked is partner Adam Ross, who is “highly regarded for his capability in producing solid work”, says a competitor.

In the last year, Chapman Tripp represented Siemens AG against the Commerce Commission’s claim that the company was involved in a possible price-fixing cartel for gas insulated switchgear in New Zealand. This is one of the first cases to address the meaning of price fixing in the context of provisions in the Commerce Act.

Chapman Tripp’s energy and natural resources practice has always “provided strong knowledge and innovative advice”, says one client.

Clients strongly appreciate partners Stephen Lowe and John Holland for “their easy accessibility and their specialised skills in corporate and commercial law”.

Last year’s highlight included acting for Shell Petroleum Mining Co in arbitration with its joint venture party Todd Petroleum Mining Co. This concerned the rights and obligations of the operator and venture participants in relation to assets used as well as the recovery of operating and capital costs.

Another highlight was acting for Vector Gas on the liquidation of E-Gas, a significant gas retailer. The liquidation created risks for Vector’s operation of gas pipelines, including recovery of charges, pipeline balancing and the allocation of gas to other retailers.

“Chapman Tripp is recognised experts in the IP field in New Zealand,” says one client. “Its solutions are commercially astute and exactly matched our needs.” Partner Matt Sumpter “is one of the most respected individuals in his field in New Zealand”, says a client. “His advice is always spot-on and his guidance in the lead up to, and during, a litigation process is invaluable.”

The firm retains its role as principal copyright and commercial IP counsel to Microsoft New Zealand, and it is continuously involved in providing cutting-edge copyright advice on matters ranging from emerging content and distribution issues to enforcement and law reform.

Chapman Tripp’s Technology, Media & Telecommunications practice is unparalleled in the New Zealand market “for its excellent commercial advisory capability and for housing strong negotiators”, says one client. IT specialist partner Bruce McClintock is highly recommended for having a “strong commercial skill-set and a commitment to finding workable solutions.”

The firm advised Mobile Commerce (M-Com) and its shareholders on its distribution of M-Com’s mobile banking and payments solutions business. M-Com’s partnering arrangements with Fiserv Inc. and subsequent sale represent one of the most significant technology export successes in New Zealand’s tech sector.

Another notable deal was advising Telecom NZ on its response to the Government’s US$1.25 billion Ultra Fast Broadband (UFB) Initiative, which aimed to accelerate the roll-out of ultra-fast broadband to 75% of the country’s population.

“The expertise provided by Chapman Tripp is consistently excellent,” says one client. The firm’s employment practice continues to advise on some of the country’s highest profile employment matters.

Principal Geoff Bevan is “a consummate legal professional, whose primary skill is in blending good legal advice with practical business solutions”, says a client.

This past year’s highlight was advising Earthquake Commission (EQC) New Zealand regarding a significant increase in staff contractors as a result of the earthquakes in the Canterbury region. The firm’s team also provided employment advice to the receivers of South Canterbury Finance.

“Chapman Tripp’s taxation strength is to read the appropriateness of each case,” says one client. The firm retains its top tier position having strengthened the team’s core with the arrival of consultant David Patterson from Minter Ellison Rudd Watts and the internal promotion of Graeme Olding to partner status.

The firm advised the New Zealand Treasury on a range of tax issues in connection with Crown’s support package for AMI Insurance. The Christchurch-based insurance company ran into difficulties following the second of the Canterbury earthquakes in February this year.

The Chapman Tripp team advised on the tax aspects of the Heartland merger between MARAC Finance, CBS Canterbury and Southern Cross Building Society to form a US$1.83 billion listed financial services group intended to become New Zealand’s only listed registered bank.