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

DLA Phillips Fox is “quick to provide knowledgeable banking advice”, says one client. This globally-connected law firm had a busy year advising Foodstuffs Auckland Group in securing a US$249 million syndicated multi option facility by ANZ Banking Group, National Bank, Bank of New Zealand, Westpac Banking Corporation and CBA. The team was also able to secure a US$83 million working capital facility to Foodstuffs Finance (Auckland) Limited from CBA.

DLA Phillips Fox has “an excellent M&A service, and we have no questions over its legal abilities”, says one client.

The firm advised Kuehne + Nagel on the acquisition of a 75% interest in Cooltainer Holdings, a New Zealand-based freight operator specialising in refrigerated shipping containers with operating subsidiaries in New Zealand and Australia. The transaction required input from DLA Phillips Fox offices in Sydney and Melbourne, particularly in relation to the due diligence review and completion arrangements.

“DLA Phillips Fox has excellent construction expertise,” says one client. Clients have chosen to instruct the firm “because of its very high level of legal expertise in construction and property areas”, as well as “the firm’s ability to think and act innovatively”.

For example, the DLA team is acting for Wellington City Council Housing Upgrade Project team on the multi-million dollar housing upgrade of the City’s residential housing stock. The New Zealand Government has agreed to contribute US$182.6 million over the life of the project.

DLA Phillips Fox is constantly involved in complex corporate, commercial and public law litigation in New Zealand. The firm’s Wellington practice has one of the largest public law practices because of its lead provider relationship with Wellington City Council.

The firm successfully represented Tyco International, Tyco Electronics and Covidien in a recent High Court proceeding. This matter involved seeking declarations and orders to validate potentially void allotments under historical employee incentive and share purchase schemes.

Another transaction saw the firm act for an Australasian quantity surveying firm on instructions from its insurer, Allianz Australia Insurance, in defence of professional negligence claims in excess of US$12 million by the owners.

DLA Phillips Fox’s global network connections allow the firm to routinely provide advice on the New Zealand tax implications of global restructurings to multinationals wishing to operate in this jurisdiction.

Highly regarded partner Lynette Smith led the firm’s taxation team on the transition of TOWER Group’s transactional banking arrangements from ANZ National Bank to Westpac New Zealand, and the subsequent grant by Westpac Banking Corp of a US$20 million standby liquidity.