Articles Related to Commercial

Fair Pay Agreements Bill to Take Effect Very Soon

The widely disputed Fair Pay Agreements Bill (“FPA Bill”) has been passed and will take effect on 1 December 2022. When it takes effect, the Act will provide a framework for collective bargaining for fair pay agreements (“FPA’s”) across all New Zealand industries or occupations, rather than just between unions and particular employers.

 

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Recent US Court case Zuru v Glassdoor serves as wake up call for New Zealand Employers
The California-based website Glassdoor Incorporated (“Glassdoor”) recently lost a case brought against it by New Zealand-based company ZURU Toys New Zealand Limited (“Zuru”). Personal information surrounding anonymous reviews must now be released from Glassdoor to Zuru to allow them to pursue a defamation claim against suspected present and past employees who expressed their resentment of the company online.
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Should I Establish a Trust?

Trusts play an important role in New Zealand society and its economy. There are an estimated half million trusts existing in New Zealand – and with good reason as trusts,  when established and managed properly, provide a valuable long-term asset management structure.

 

There are a range of reasons to establish a Trust, including flexibility for your family and business.  A Trust can be an excellent way to protect and preserve assets while benefitting your business and family members during and beyond your lifetime.

 

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New Protected Disclosures Act a reminder for employers to ensure they have solid whistleblowing policies in place
The Protected Disclosures (Protection of Whistleblowers) Act (“the Act”) comes into effect from 1 July 2022, replacing the Protected Disclosures Act 2000 (“the 2000 Act”).
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Guidelines for determining COVID-19 commercial rent relief released
Following the enactment of the COVID-19 Response (Management Measures) Legislation Act 2021 (“Act”), the Ministry of Justice has now published guidelines to assist parties when negotiating COVID-19 lockdown rent relief agreements.
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Buying a Business in Covid-19? Due diligence issues to consider
Like many other big decisions, before buying a business you need to ask the right questions.  This is known as due diligence (“DD”) and should involve assessment of the financial, operational and legal affairs of your target business.  Done well, DD will help you to more fully understand your target’s business, identify and assess financial, legal and operational risks and opportunities, and inform whether and at what price, you want to proceed with the acquisition.
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It’s go time for Overseas Investment Act reforms – what you need to know about today’s changes
Today (24 November 2021) marks the introduction of significant changes to the Overseas Investment Act 2005.  This is the final stage of reform which began in 2018.
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Time to negotiate: Commercial rent relief mandate enacted
The COVID-19 Response (Management Measures) Legislation Act (“Act”) has come into force, mandating landlord and tenant rent relief negotiations in the COVID-19 pandemic from mid-August 2021.
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Covid-19 Commercial Rent Relief Update

Earlier this month, we wrote about the COVID-19 Response (Management Measures) Legislation Bill (“Bill”). If passed, the Bill will have the effect of inserting an implied clause into many commercial leases providing for a rent reduction where, because of an epidemic, the tenant cannot gain access to the premises to fully conduct its business.

 

The Bill has since been through a public consultation process and the Finance and Expenditure Committee (“Committee”) has now published a report which summarises the various submissions on the Bill that the Committee received.

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Commercial leases and rent relief during the COVID-19 pandemic
The effect of COVID-19 on New Zealand businesses has been profound. In the wake of the initial Alert Level 4 lockdown in March 2020, followed by several periods of Alert Level changes since then, commercial landlords and tenants were left out of pocket, scrambling to negotiate to reduce or defer rent and outgoings and in some cases, resorting to cancellation.
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