Check out our latest updates on legal and legislative changes.
Articles Related to Commercial
The Year ahead: Is 2023 the Year of Restructure?
The economic outlook for the remainder of 2023 for New Zealand looks challenging. The Reserve Bank has just raised the Official Cash Rate by 50 basis points to 4.75% which means the main trading banks will shortly follow suit with similar increases, all aimed at tackling the high inflation rates that persist.
Read more
Redundancy – Don’t Jump the Gun!
The Employment Relations Authority’s recent decision in Buckingham v St John (“Buckingham”) serves as reminder for employers to ensure their redundancy policies and procedures are sound.
What started with some “minor procedural inadequacies” on behalf of employer St John led to an unfortunate misunderstanding with employee, Ms Buckingham, regarding the redundancy package set out in her employment agreement.
Read more
Guidance for Employers and Employees During the Resignation Process
After watching Rt Hon Jacinda Ardern step down from her role as Prime Minister in January, we considered it an appropriate time to provide some guidance to both employees and employers about the resignation process in New Zealand.
Resignation is a process where an employee voluntarily terminates their employment agreement with their employer. While resignations are a common and relatively straightforward process across New Zealand workplaces, there are some important considerations that both employees and employers should take into account.
Read more
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.
Read more
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.
Read more
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.
Read more
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”).
Read more
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.
Read more
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.
Read more
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.
Read more