Description
14th Annual Corporate Restructuring And Insolvency Conference
14
th
Annual Corporate Restructuring
and Insolvency Conference
The premier annual conference tailored for
corporate insolvency and recovery practitioners
6, 7 and 8 May 2015, Hotel Pullman, Auckland
Outstanding speaker faculty including:
Kevyn Orr, Former
Detroit City Emergency
Manager, United States
Peter Deans, Chief
Risk Officer, Bank of
Queensland, Australia
Rod Oram, Financial
commentator and
journalist
In-depth panel discussion on voidable transactions: hear
all the arguments for and against the regime and the
outcome of the Supreme Court decision in Farrell v
Fences & Kerbs
Hear about possible increased regulation of the banking
industry and the implications for banks in
New Zealand
Find out how the Sheahan and Lock decision impacts on
liquidators’ powers
Complying with the new Health and Safety at Work Act
Understanding the complexities of protecting
electronically stored information and avoiding
cyber-crime
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Pre-dinner Drinks Sponsor
Gala Dinner Sponsor
Workshop and Welcome
Cocktail Sponsor
Wine Sponsor
Gold Sponsors
Þlaunum Sponsor
BOOK TODAY: Phone 0800 467 656 Email [email protected] or visit www.ritanz.org.nz
Supported by:
Dear Colleagues,
On behalf of the RITANZ committee, it is a pleasure
to invite you to attend the pre-eminent insolvency
conference for industry participants, Corporate
Restructuring and Insolvency 2015.
In this ever-changing and challenging industry it is
more important than ever for professionals, whether
you are an insolvency practitioner, a lawyer or a financier, to stay up to date
with the latest case law, legislation and economic developments. Now in its
14th year, this two day conference has become the principal event for the
profession, allowing you to both update your technical skills and network with
colleagues.
A great deal has happened since we held the conference twelve months
ago. We have now completed the transition from INSOL New Zealand to
Restructuring and Insolvency Turnaround New Zealand (RITANZ). To formally
launch the new organisation we have incorporated a cocktail function into the
conference, taking place on the evening of Wednesday 6th May. We welcome
all members to attend this function at the Northern Club.
As always we have designed the programme this year to reflect all of the
current legal, regulatory and economic issues. To that end, we have a panel
discussion on voidable transactions, examining the availability of the good faith
defence for creditors and also the pros and cons of the voidable regime. The
new Health and Safety at Work Act is another important development affecting
insolvency practitioners which will be explored at length. In the financial sector
banks are continuing to show positive balance sheets, with most recording
the lowest level of bad debts in many years. A senior banker from Australia
discusses whether banks have the capability to deal with an increase in bad
debts and also how banks will respond to greater regulation after the Murray
Inquiry.
All of us have been involved in advising and managing companies that are
insolvent but very few of us have been called on to manage an entire city that
has gone into bankruptcy. That is just what happened to our keynote speaker,
Kevyn Orr from Jones Day in the United States, approximately two years ago.
We are very fortunate to be able to hear, first hand, how, after many months of
negotiations with pension holders and others, he managed to help negotiate a
“grand bargain” reducing the city’s debt burden and restoring it to solvency. We
also welcome Peter Deans, the Chief Risk Officer from the Bank of Queensland,
Scott Atkins, a partner from Henry Davis York and INSOL International Fellow
and his colleague Claudine Salameh. In addition, well known commentator and
journalist, Rod Oram, provides his views on the New Zealand economy and
industry.
Thank you once again to Justice Paul Heath for agreeing to chair the conference
for the fourteenth year. We thoroughly appreciate the wisdom and knowledge
that Justice Heath imparts throughout the course of the two days. He is the
mainstay of this event and his, often thought provoking, comments are reason
enough to attend the conference.
One of the most enjoyable aspects of the conference is the gala dinner taking
place on the evening of Thursday 7th of May. This provides an opportunity
to network with colleagues and senior members of the profession. We are
fortunate to have the writer, rugby player, and Australian Peter Fitzsimons
speaking this year. Book early because seats are strictly limited.
I look forward to seeing you in May 2015.
Brendon Gibson
Chairman, RITANZ
Message from Chairman of
RITANZ, Brendon Gibson
Insolvency and banking
lawyers
Insolvency practitioners
Turnaround
professionals
Banks
Credit and Lending
Professionals
Corporate recovery
professionals
Who Should Attend?
BOOK TODAY: Phone 0800 467 656
email [email protected] or visit www.ritanz.org.nz
1.00 Delegate Registration
1.20 Welcome remarks by Chairman
1.30 Mastering the PPSA in Practice
One of the most common issues to arise in an insolvency
practitioner’s day to day practice is whether creditors
have a legitimate claim for the return of goods and the
various priorities of securities. Personal Property Security
Act claims give rise to many issues and are the subject
of numerous court cases. This session examines all the
thorny issues related to PPSA claims and looks in detail at
how insolvency practitioners can best resolve them. The
discussion provides:
- An updaLe on case law and how Lhe cases mlghL affecL
your practice
- LnforcemenL and remedles
- Case sLudles and ºwar" sLorles
- CheckllsL Lo help deLermlne prlorlLles of securlLles
Steve Flynn, Special Counsel, Simpson Grierson
3.00 Refreshment Break
3.30 Step by Step Guide for Investigating Accountants
In the current economy it is increasingly common for an
insolvency practitioner to be called in by a bank or other
lender to assess and analyse a company’s accounts and
provide potential restructuring advice. The aim being to
determine whether the company is insolvent and what,
if anything, can be done to avert its failure. You may also
have to spot whether there is any fraud or an operational
problem that might be remedied. This workshop takes
you step by step through the process of analysing and
investigating companies. It is aimed to inform both
accountants and to give lawyers and financiers an overview
of what is routinely done by investigating accountants.
- Þre-lnLervenLlon advlsory role of lnsolvency
practitioners
- Assesslng a buslness
- WhaL Lo look ouL for, problems, lssues?
- CperaLlonal lssues
- CeLLlng pald
- WhaL do Lhe banks expecL from lnvesLlgaLlng
accounLanLs?
Colin Gower, Partner, BDO
Mornet van der Merwe, Senior Manager Business Risk,
Kiwibank
5.00 Special Welcome Reception and
Launch of RITANZ
Note that all conference delegates
and speakers are invited to attend
this function held at the Northern
Club on Princes St
Wednesday 6 May 2015 Thursday, 7 May 2015
Pre-conference Interactive Workshops
Opening Keynote Address
Keynote Address
9.00 Opening Remarks from the Chairman
Justice Paul Heath, High Court of New Zealand
9.10 Managing a City in Bankruptcy
In July 2013 the unbelievable happened and a major United
States city, the City of Detroit, filed a petition for bankruptcy
under Chapter 9 of the United States Bankruptcy Code. This
extraordinary event followed the appointment in March of
Kevyn Orr, a veteran insolvency lawyer from Jones Day, as
Lmergency Manager Lo Lhe ClLy. Mr Crr had been appolnLed by
the Michigan State Governor. Mr Orr discusses the:
- lasclnaLlng evenLs leadlng up Lo Lhe bankrupLcy
- 8easons why Lhe ClLy flled under ChapLer 9
- key sLeps LhaL he has Laken Lo resurrecL Lhe ClLy and provlde
it with a more prosperous future
Kevyn Orr, Former Detroit City Emergency Manager
10.00 Q & A
10.10 Understanding and Responding to the Challenges
Facing Banks
Banks in Australia and New Zealand currently have the lowest
levels of bad debts since the global financial crisis and profits
are well up. However, with the economy softening and new
regulations for banks on the horizon things are looking to
change. It is the Chief Risk Officer of a bank who will be at the
forefront and ready to deal with these changes. This speaker
outlines the challenges and how banks are likely to respond.
- Are bad debLs llkely Lo go up and when?
- uo banks have Lhe capablllLy Lo deal wlLh an lncrease ln bad
debLs?
- Pow are banks llkely Lo respond?
- 1he uavld Murray lnqulry lnLo Lhe llnanclal SysLem ln
Australia
- whaL are Lhe llkely lmpllcaLlons of Lhe lnqulry?
- impact of increased capital holdings on banks
- implications for New Zealand, particularly the Australian
owned New Zealand banks
- impact on our customers in New Zealand
- 1he value of greaLer regulaLlon for banks
Peter Deans, Chief Risk Officer, Bank of Queensland, Australia
11.00 Refreshment Break
Panel Discussion
11.20 Voidable Transactions: Latest Cases, Practical
Implications, Where to From Here?
No one would argue that voidable preference claims are an
important tool for liquidators to claw back transactions and
recover funds for the pool of creditors. However, insolvent
transaction claims have become somewhat controversial
with some in the industry arguing that the “tool” is less
effective than it was intended to be. There have also been
a number of important insolvent transaction cases flowing
through the courts, including the recent Supreme Court
decision in Farrell v Fences & Kerbs. This session explores:
- 1he Supreme CourL declslon ln Fences & Kerbs Limited
- CLher recenL case law
- lmpacL on Lhe markeL: Pow are llquldaLors and credlLors
affecLed by Lhe ouLcome of Lhese cases?
- Þollcy dlscusslon
- arguments for and against the voidable regime
- in reality does the general pool of creditors often see
Lhe beneflLs of unwlndlng paymenLs?
- do we need more restrictive time limits on bringing
acLlons agalnsL poLenLlally preferred credlLors?
Mike Whale, Consultant, Lowndes (Moderator)
Sebastian Bisley, Partner, Buddle Findlay
Vivian Fatupaito, Director, KPMG
Janie Elrick, Chief Financial Officer, Steel & Tube
Cathy Murphy, Barrister
12.30 Networking Lunch
1.30 Case Study: Decanting the Issues Arising in a
Winery Restructuring
There are many challenges faced in business turnaround
and restructuring assignments. The implementation of any
financial restructuring, and working with those impacted
by the decisions, are two of the difficulties to overcome
when trying to find a workable solution. It is often as
much about the people as it is about the balance sheet.
This study examines:
- Pow Lhese Lwo challenges lnLerface
- WhaL Lhlngs lnsolvency pracLlLloners should conslder
when approachlng a Lurnaround asslgnmenL?
- varlous examples and cases are referred Lo ln Lhe sLudy,
including a winery example which has undergone a
significant restructuring and is now prospering
Jeff Hart, Chief Executive Officer, Benton Group and
Managing Director, Jackson Estate Wines
2.20 Essential Update on Directors Liability and
Corporate Governance
A number of recent cases against the directors of failed
finance companies have highlighted the challenges in
trying to pursue directors, whether in civil or criminal
actions. Insolvency practitioners often have to grapple
with claims against directors and must identify whether to
bring a claim.
- WhaL ls Lhe effecL of regulaLors Laklng acLlons agalnsL
dlrecLors?
- Wlll dlrecLors lnsurance respond Lo a clalm and Lhe
effect of Bridgecorp v Lloyds?
- lssues arlslng from South Canterbury Finance
- WhaL can we learn from Lhe Feltex case?
Murray Tingey, Partner, Bell Gully
John Fisk, Partner, PWC
3.10 Refreshment Break
3.30 Utilising the Liquidators’ Powers to Achieve the
Best Results
Section 261 of the Companies Act is commonly used by
liquidators to assist in their investigations into an insolvent
company’s dealings. The recent landmark decision in ANZ
National Bank Ltd v Sheahan and Lock limited the ability of
liquidators to examine witnesses and obtain documents.
This presentation looks, in depth, at Section 261, the
potential limits on these powers and how this will affect
liquidators in practice. The discussion canvasses other
recent case law impacting on the powers and duties of
liquidators.
- 1he declslon ln ANZ National Bank Ltd v Sheahan and
Lock
- obtaining third party documents
- liquidators’ misuse of bank employee transcript
- LlquldaLors' power Lo dlsclalm leases - AusLrallan case ln
Willmott
- key pracLlcal polnLs Lo be Laken from Lhese cases
Michael Arthur, Partner, Chapman Tripp
4.20 Legal Update from the Across the Tasman
These senior Australian lawyers explore the latest case law
from across the Tasman with a focus on those areas that
have relevance to New Zealand practitioners. The key areas
examined are:
- 1he laLesL AusLrallan ÞÞSA cases
- volunLary admlnlsLraLlons
- 8ecenL cross border lssues beLween AusLralla and new
Zealand
Scott Atkins, Partner, Henry Davis York and INSOL Fellow
Claudine Salameh, Partner, Henry Davis York
5.10 Closing Remarks from Chair and Day One Concludes
5.20 Networking Drinks
7.00 Gala Dinner with special guest
speaker Peter Fitzsimons
BOOK TODAY: Phone 0800 467 656
email [email protected] or visit www.ritanz.org.nz
Keynote Address
Friday, 8 May 2015
8.40 Opening Remarks from the Chairman
Justice Paul Heath, High Court of New Zealand
8.50 Analysing the Latest Trends in the New Zealand
Economy and Industry
Rod Oram has more than 30 years’ experience as an
international business journalist. He has worked for various
publlcaLlons ln Lurope and norLh Amerlca, lncludlng Lhe
Financial Times of London. He is currently a columnist
for the Sunday Star Times, a regular broadcaster on radio
and television, and a frequent public speaker on business,
economics, innovation, creativity and entrepreneurship.
In this discussion Rod explores some of the more topical
issues arising in the current New Zealand economy and
examines what industries are likely to come under pressure
in the next 12 months.
Rod Oram, Business Journalist and Columnist
9.40 Roundtable Discussion: International Developments
in Restructuring and Insolvency
International speakers and experts examine some of the
latest trends emerging globally in corporate restructuring
and insolvency, with insights into some of the key cross
border issues that have arisen. This interactive panel
discussion will also provide an opportunity for the audience
to ask questions.
Michael Stiassny, Senior Partner, Korda Mentha
(Moderator)
Kevyn Orr, Former Detroit City Emergency Manager, United
States
Scott Atkins, Partner, Henry Davis York and INSOL Fellow
Justice Paul Heath, High Court of New Zealand
10.30 Analysing the New Health and Safety at Work Act
The Health and Safety at Work Act comes into force in April
2015. The significant duties and obligations that the Act
imposes on officers of companies extend to receivers and
liquidators when they are appointed to manage businesses.
It is often the health and safety requirements that have
been neglected by insolvent companies and therefore
insolvency practitioners will need to be able to respond to
these matters immediately. Be prepared!
- Lxplorlng Lhe obllgaLlons lmposed on offlcers of
companies
- Pow wlll Lhese obllgaLlons lmpacL on lnsolvency
pracLlLloners?
- CheckllsL of healLh and safeLy lssues Lo be aware of when
appointed
- 1he [urlsdlcLlon and Lhe role of WorkSafe new Zealand
explained
- CrlLlcal lnslghL lnLo how llquldaLors and recelvers can
manage their H & S risks
- ÞoLenLlal lndusLrles LhaL may be more aL rlsk Lhan oLhers
Erica Miles, Consultant Health and Safety, KPMG Advisory
Stacey Shortall, Partner, Minter Ellison
11.30 Refreshment Break
11.50 Essential Roundup of the Latest Court Decisions
Insolvency law is continually evolving, legislation is
interpreted and principles are refined and brought into line
with commercial realities. It is essential that practitioners
keep up and modify their practices where necessary. This
essential annual review of cases examines the most recent
case law and provides valuable insights as to how these cases
will affect insolvency practice.
Matt Kersey, Partner, Russell McVeagh
Polly Pope, Partner, Russell McVeagh
12.40 CyberCrime: Protecting Electronically Stored
Information from Hackers
It is every receiver or liquidator’s nightmare to be called into
a business in turmoil only to find that an employee has stolen
electronically stored information or even worse has set up a
defamaLory lacebook page. Lxplorlng Lhe rlsks Lo be aware of
when it comes to protecting electronically stored information
in an insolvency.
- LlecLronlcally sLored lnformaLlon pollcles and pracLlces
- Case sLudles - whaL would you do as opposed Lo whaL you
should do?
- Cyber Crlme - key Lhlngs Lo look ouL for
- lnsurance lmpllcaLlons
Philip Whitmore, Partner, KPMG
Xavier Marguinaud, New Zealand Cyber Risk Specialty Head,
Marsh
1.30 Chairman’s Closing Remarks and Conference Concludes
Health and Safety
Kevyn Orr
lormer Lmergency Manager ueLrolL ClLy
Kevyn Orr has practiced law in the areas of business restructuring, financial institution regulation, and commercial
litigation for three decades. Throughout his career he has demonstrated the ability to handle all aspects of complex
and precedenL-seLLlng maLLers. kevyn was appolnLed Lmergency Manager of Lhe ClLy of ueLrolL on March 14, 2013
and was charged with restructuring the city. His previous restructuring experience has included his service as the
chief government legal officer of a failed financial institution and a special master to oversee the operations of a real
estate development firm. He also has assisted clients with government requests for proposals and inspector general
audits. In 2001, Kevyn joined the Jones Day law firm where he served on the firm’s Advisory Committee and was the
Firmwide Partner for Hiring and Diversity. At Jones Day, Kevyn’s responsibilities included:
- Counselllng and represenLaLlon of Chrysler LCC wlLh regard Lo all aspecLs of lLs bankrupLcy,
- AcLlng for u8S/WCl agalnsL clalms by Lhe ueparLmenL of !usLlce for alleged lAA/lCA and relaLed
common law conLracL clalms,
- AcLlng for heaLh care flnancler naLlonal CenLury llnanclal LnLerprlses ln lLs bankrupLcy and
asserting that company’s claims in the health care provider bankruptcies of PhyAmerica
CorporaLlon and uCPC/CreaLer SouLheasL PosplLal,
- AcLlng for Laldlaw CorporaLlon ln lLs defense of a $1 bllllon clalm by Lhe purchaser of lLs
envlronmenLal cleanup dlvlslon,
- AcLlng for lnvesLmenL banks and advlsers ln bankrupLcy maLLers and sellers and bldders ln
bankruptcy related auctions.
Peter Deans
Chief Risk Officer, Bank of Queensland
Peter Deans was appointed Chief Risk Officer at BOQ in March 2012. Peter has driven fundamental change in the
8ank's rlsk managemenL frameworks, processes and culLure. As parL of Lhe LxecuLlve Leam, he has also played a key
role in reshaping both the business and risk management strategies at BOQ. Peter has over 27 years of experience
across retail, business and institutional banking. Peter held senior risk management roles with the Commonwealth
Bank of Australia’s commercial and institutional banking businesses between 1999 and 2010. In 2008, following the
acquisition of Bankwest by CBA, Peter was appointed CRO of Bankwest.
Keynote Speakers
Rod Oram
Business Journalist and Columnist
Rod Oram has more than 30 years’ experience as an international business journalist. He has worked for various
publlcaLlons ln Lurope and norLh Amerlca, lncludlng Lhe llnanclal 1lmes of London. 8od and hls famlly emlgraLed from
Lhe uk Lo new Zealand ln 1997. Pe ls currenLly a columnlsL for Lhe Sunday SLar 1lmes, a regular broadcasLer on radlo
and Lelevlslon, and a frequenL publlc speaker on buslness, economlcs, lnnovaLlon, creaLlvlLy and enLrepreneurshlp,
in both NZ and global contexts. For more than a decade, Rod has been helping fast-growing New Zealand companies
Lhrough hls lnvolvemenL wlLh 1he lCLPCuSL, Lhe enLrepreneurshlp cenLre aL Lhe unlverslLy of Auckland's 8uslness
School. In 2007 Penguin published his book on the New Zealand economy, Reinventing Paradise. He was named the
Landcorp Agricultural Communicator of the Year for 2009. Rod was the winner in the individual category in the 2010
vero Lxcellence ln 8uslness SupporL Awards and was 2010 ColumnlsL of Lhe ?ear ln Lhe consumer caLegory ln Lhe
national magazine awards for his columns in Good, a consumer sustainability magazine.
BOOK TODAY: Phone 0800 467 656
email [email protected] or visit www.ritanz.org.nz
RITANZ is grateful for the support of our sponsors
PULLMAN AUCKLAND
Cnr Princes St & Waterloo Quadrant,
PO BOX 106013
Auckland City, 1143,
New Zealand
- T. +64 (0)9 353 1000
Accommodation
Pre-dinner Drinks Sponsor
Sustaining Sponsors
Gala Dinner Sponsor
Workshop and Welcome
Cocktail Sponsor
Wine Sponsor
Gold Sponsors
Þlaunum Sponsor
RITANZ Members
Select Options Price Qty Subtotal
Conference + Interactive Workshop + Dinner $1900 + GST = $2185.00
Conference + Interactive Workshop $1800 + GST = $2070.00
Conference + Dinner $1600 + GST = $1840.00
Conference fee only $1S00 + GST = $1725.00
Early Bird Prices (ends 10 April 2015)
Select Options Price Qty Subtotal
Conference + Interactive Workshop + Dinner $2000 + GST = $2300.00
Conference + Interactive Workshop $1900 + GST = $2185.00
Conference + Dinner $1700 + GST = $1955.00
Conference fee only $1600 + GST = $1840.00
Standard Prices
Select Options Price Qty Subtotal
Conference + Interactive Workshop + Dinner $2300 + GST = $2645.00
Conference + Interactive Workshop $21S0 + GST = $2472.50
Conference + Dinner $2000 + GST = $2300.00
Conference fee only $18S0 + GST = $2127.50
(All fees include comprehensive documentation)
Interactive Workshop Only $400 + GST = $460.00
Conference Dinner Only $200 + GST = $230.00
Access Code to Papers and Presentations
Online Only
$400 + GST = $460.00
Total
Book Now!
Please telephone for Group Bookings
Email [email protected] (Note: please email the
completed registration page)
Phone 0800 467 656
Web www.ritanz.org.nz
Mail RITANZ
c/o ÞC 8ox S64S1
Dominion Road
Auckland 1446
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14
th
Annual Corporate Restructuring
and Insolvency Conference
6, 7 & 8 May 2015, Hotel Pullman, Auckland
Please complete sections A, B, C & D
PROGRAM CHANGES
Details regarding this conference were confirmed and correct at the time of
printing. RITANZ reserves the right to cancel or amend the conference details at
any time if required.
PRIVACY NOTICE
The information you provide on this form is collected and held by RITANZ
for the purposes of processing your registration or enquiry and keeping you
informed of upcoming services and events. The provision by you is voluntary
but if you do not provide some or all of the requested information we may be
unable to properly process your registration. You have both the right of access
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inaccurate or out of date.
CANCELLATION
Should you be unable to attend, a substitute delegate is welcome at no extra
cosL. AlLernaLlvely, a full refund less $S0 servlce charge wlll be made for
cancellations received in writing (letter or email) ten working days or more prior
to the event. Regrettably, no refund can be made for cancellations less than ten
working days prior to the event.
doc_746812440.pdf
14th Annual Corporate Restructuring And Insolvency Conference
14
th
Annual Corporate Restructuring
and Insolvency Conference
The premier annual conference tailored for
corporate insolvency and recovery practitioners
6, 7 and 8 May 2015, Hotel Pullman, Auckland
Outstanding speaker faculty including:
Kevyn Orr, Former
Detroit City Emergency
Manager, United States
Peter Deans, Chief
Risk Officer, Bank of
Queensland, Australia
Rod Oram, Financial
commentator and
journalist
In-depth panel discussion on voidable transactions: hear
all the arguments for and against the regime and the
outcome of the Supreme Court decision in Farrell v
Fences & Kerbs
Hear about possible increased regulation of the banking
industry and the implications for banks in
New Zealand
Find out how the Sheahan and Lock decision impacts on
liquidators’ powers
Complying with the new Health and Safety at Work Act
Understanding the complexities of protecting
electronically stored information and avoiding
cyber-crime
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Pre-dinner Drinks Sponsor
Gala Dinner Sponsor
Workshop and Welcome
Cocktail Sponsor
Wine Sponsor
Gold Sponsors
Þlaunum Sponsor
BOOK TODAY: Phone 0800 467 656 Email [email protected] or visit www.ritanz.org.nz
Supported by:
Dear Colleagues,
On behalf of the RITANZ committee, it is a pleasure
to invite you to attend the pre-eminent insolvency
conference for industry participants, Corporate
Restructuring and Insolvency 2015.
In this ever-changing and challenging industry it is
more important than ever for professionals, whether
you are an insolvency practitioner, a lawyer or a financier, to stay up to date
with the latest case law, legislation and economic developments. Now in its
14th year, this two day conference has become the principal event for the
profession, allowing you to both update your technical skills and network with
colleagues.
A great deal has happened since we held the conference twelve months
ago. We have now completed the transition from INSOL New Zealand to
Restructuring and Insolvency Turnaround New Zealand (RITANZ). To formally
launch the new organisation we have incorporated a cocktail function into the
conference, taking place on the evening of Wednesday 6th May. We welcome
all members to attend this function at the Northern Club.
As always we have designed the programme this year to reflect all of the
current legal, regulatory and economic issues. To that end, we have a panel
discussion on voidable transactions, examining the availability of the good faith
defence for creditors and also the pros and cons of the voidable regime. The
new Health and Safety at Work Act is another important development affecting
insolvency practitioners which will be explored at length. In the financial sector
banks are continuing to show positive balance sheets, with most recording
the lowest level of bad debts in many years. A senior banker from Australia
discusses whether banks have the capability to deal with an increase in bad
debts and also how banks will respond to greater regulation after the Murray
Inquiry.
All of us have been involved in advising and managing companies that are
insolvent but very few of us have been called on to manage an entire city that
has gone into bankruptcy. That is just what happened to our keynote speaker,
Kevyn Orr from Jones Day in the United States, approximately two years ago.
We are very fortunate to be able to hear, first hand, how, after many months of
negotiations with pension holders and others, he managed to help negotiate a
“grand bargain” reducing the city’s debt burden and restoring it to solvency. We
also welcome Peter Deans, the Chief Risk Officer from the Bank of Queensland,
Scott Atkins, a partner from Henry Davis York and INSOL International Fellow
and his colleague Claudine Salameh. In addition, well known commentator and
journalist, Rod Oram, provides his views on the New Zealand economy and
industry.
Thank you once again to Justice Paul Heath for agreeing to chair the conference
for the fourteenth year. We thoroughly appreciate the wisdom and knowledge
that Justice Heath imparts throughout the course of the two days. He is the
mainstay of this event and his, often thought provoking, comments are reason
enough to attend the conference.
One of the most enjoyable aspects of the conference is the gala dinner taking
place on the evening of Thursday 7th of May. This provides an opportunity
to network with colleagues and senior members of the profession. We are
fortunate to have the writer, rugby player, and Australian Peter Fitzsimons
speaking this year. Book early because seats are strictly limited.
I look forward to seeing you in May 2015.
Brendon Gibson
Chairman, RITANZ
Message from Chairman of
RITANZ, Brendon Gibson
Insolvency and banking
lawyers
Insolvency practitioners
Turnaround
professionals
Banks
Credit and Lending
Professionals
Corporate recovery
professionals
Who Should Attend?
BOOK TODAY: Phone 0800 467 656
email [email protected] or visit www.ritanz.org.nz
1.00 Delegate Registration
1.20 Welcome remarks by Chairman
1.30 Mastering the PPSA in Practice
One of the most common issues to arise in an insolvency
practitioner’s day to day practice is whether creditors
have a legitimate claim for the return of goods and the
various priorities of securities. Personal Property Security
Act claims give rise to many issues and are the subject
of numerous court cases. This session examines all the
thorny issues related to PPSA claims and looks in detail at
how insolvency practitioners can best resolve them. The
discussion provides:
- An updaLe on case law and how Lhe cases mlghL affecL
your practice
- LnforcemenL and remedles
- Case sLudles and ºwar" sLorles
- CheckllsL Lo help deLermlne prlorlLles of securlLles
Steve Flynn, Special Counsel, Simpson Grierson
3.00 Refreshment Break
3.30 Step by Step Guide for Investigating Accountants
In the current economy it is increasingly common for an
insolvency practitioner to be called in by a bank or other
lender to assess and analyse a company’s accounts and
provide potential restructuring advice. The aim being to
determine whether the company is insolvent and what,
if anything, can be done to avert its failure. You may also
have to spot whether there is any fraud or an operational
problem that might be remedied. This workshop takes
you step by step through the process of analysing and
investigating companies. It is aimed to inform both
accountants and to give lawyers and financiers an overview
of what is routinely done by investigating accountants.
- Þre-lnLervenLlon advlsory role of lnsolvency
practitioners
- Assesslng a buslness
- WhaL Lo look ouL for, problems, lssues?
- CperaLlonal lssues
- CeLLlng pald
- WhaL do Lhe banks expecL from lnvesLlgaLlng
accounLanLs?
Colin Gower, Partner, BDO
Mornet van der Merwe, Senior Manager Business Risk,
Kiwibank
5.00 Special Welcome Reception and
Launch of RITANZ
Note that all conference delegates
and speakers are invited to attend
this function held at the Northern
Club on Princes St
Wednesday 6 May 2015 Thursday, 7 May 2015
Pre-conference Interactive Workshops
Opening Keynote Address
Keynote Address
9.00 Opening Remarks from the Chairman
Justice Paul Heath, High Court of New Zealand
9.10 Managing a City in Bankruptcy
In July 2013 the unbelievable happened and a major United
States city, the City of Detroit, filed a petition for bankruptcy
under Chapter 9 of the United States Bankruptcy Code. This
extraordinary event followed the appointment in March of
Kevyn Orr, a veteran insolvency lawyer from Jones Day, as
Lmergency Manager Lo Lhe ClLy. Mr Crr had been appolnLed by
the Michigan State Governor. Mr Orr discusses the:
- lasclnaLlng evenLs leadlng up Lo Lhe bankrupLcy
- 8easons why Lhe ClLy flled under ChapLer 9
- key sLeps LhaL he has Laken Lo resurrecL Lhe ClLy and provlde
it with a more prosperous future
Kevyn Orr, Former Detroit City Emergency Manager
10.00 Q & A
10.10 Understanding and Responding to the Challenges
Facing Banks
Banks in Australia and New Zealand currently have the lowest
levels of bad debts since the global financial crisis and profits
are well up. However, with the economy softening and new
regulations for banks on the horizon things are looking to
change. It is the Chief Risk Officer of a bank who will be at the
forefront and ready to deal with these changes. This speaker
outlines the challenges and how banks are likely to respond.
- Are bad debLs llkely Lo go up and when?
- uo banks have Lhe capablllLy Lo deal wlLh an lncrease ln bad
debLs?
- Pow are banks llkely Lo respond?
- 1he uavld Murray lnqulry lnLo Lhe llnanclal SysLem ln
Australia
- whaL are Lhe llkely lmpllcaLlons of Lhe lnqulry?
- impact of increased capital holdings on banks
- implications for New Zealand, particularly the Australian
owned New Zealand banks
- impact on our customers in New Zealand
- 1he value of greaLer regulaLlon for banks
Peter Deans, Chief Risk Officer, Bank of Queensland, Australia
11.00 Refreshment Break
Panel Discussion
11.20 Voidable Transactions: Latest Cases, Practical
Implications, Where to From Here?
No one would argue that voidable preference claims are an
important tool for liquidators to claw back transactions and
recover funds for the pool of creditors. However, insolvent
transaction claims have become somewhat controversial
with some in the industry arguing that the “tool” is less
effective than it was intended to be. There have also been
a number of important insolvent transaction cases flowing
through the courts, including the recent Supreme Court
decision in Farrell v Fences & Kerbs. This session explores:
- 1he Supreme CourL declslon ln Fences & Kerbs Limited
- CLher recenL case law
- lmpacL on Lhe markeL: Pow are llquldaLors and credlLors
affecLed by Lhe ouLcome of Lhese cases?
- Þollcy dlscusslon
- arguments for and against the voidable regime
- in reality does the general pool of creditors often see
Lhe beneflLs of unwlndlng paymenLs?
- do we need more restrictive time limits on bringing
acLlons agalnsL poLenLlally preferred credlLors?
Mike Whale, Consultant, Lowndes (Moderator)
Sebastian Bisley, Partner, Buddle Findlay
Vivian Fatupaito, Director, KPMG
Janie Elrick, Chief Financial Officer, Steel & Tube
Cathy Murphy, Barrister
12.30 Networking Lunch
1.30 Case Study: Decanting the Issues Arising in a
Winery Restructuring
There are many challenges faced in business turnaround
and restructuring assignments. The implementation of any
financial restructuring, and working with those impacted
by the decisions, are two of the difficulties to overcome
when trying to find a workable solution. It is often as
much about the people as it is about the balance sheet.
This study examines:
- Pow Lhese Lwo challenges lnLerface
- WhaL Lhlngs lnsolvency pracLlLloners should conslder
when approachlng a Lurnaround asslgnmenL?
- varlous examples and cases are referred Lo ln Lhe sLudy,
including a winery example which has undergone a
significant restructuring and is now prospering
Jeff Hart, Chief Executive Officer, Benton Group and
Managing Director, Jackson Estate Wines
2.20 Essential Update on Directors Liability and
Corporate Governance
A number of recent cases against the directors of failed
finance companies have highlighted the challenges in
trying to pursue directors, whether in civil or criminal
actions. Insolvency practitioners often have to grapple
with claims against directors and must identify whether to
bring a claim.
- WhaL ls Lhe effecL of regulaLors Laklng acLlons agalnsL
dlrecLors?
- Wlll dlrecLors lnsurance respond Lo a clalm and Lhe
effect of Bridgecorp v Lloyds?
- lssues arlslng from South Canterbury Finance
- WhaL can we learn from Lhe Feltex case?
Murray Tingey, Partner, Bell Gully
John Fisk, Partner, PWC
3.10 Refreshment Break
3.30 Utilising the Liquidators’ Powers to Achieve the
Best Results
Section 261 of the Companies Act is commonly used by
liquidators to assist in their investigations into an insolvent
company’s dealings. The recent landmark decision in ANZ
National Bank Ltd v Sheahan and Lock limited the ability of
liquidators to examine witnesses and obtain documents.
This presentation looks, in depth, at Section 261, the
potential limits on these powers and how this will affect
liquidators in practice. The discussion canvasses other
recent case law impacting on the powers and duties of
liquidators.
- 1he declslon ln ANZ National Bank Ltd v Sheahan and
Lock
- obtaining third party documents
- liquidators’ misuse of bank employee transcript
- LlquldaLors' power Lo dlsclalm leases - AusLrallan case ln
Willmott
- key pracLlcal polnLs Lo be Laken from Lhese cases
Michael Arthur, Partner, Chapman Tripp
4.20 Legal Update from the Across the Tasman
These senior Australian lawyers explore the latest case law
from across the Tasman with a focus on those areas that
have relevance to New Zealand practitioners. The key areas
examined are:
- 1he laLesL AusLrallan ÞÞSA cases
- volunLary admlnlsLraLlons
- 8ecenL cross border lssues beLween AusLralla and new
Zealand
Scott Atkins, Partner, Henry Davis York and INSOL Fellow
Claudine Salameh, Partner, Henry Davis York
5.10 Closing Remarks from Chair and Day One Concludes
5.20 Networking Drinks
7.00 Gala Dinner with special guest
speaker Peter Fitzsimons
BOOK TODAY: Phone 0800 467 656
email [email protected] or visit www.ritanz.org.nz
Keynote Address
Friday, 8 May 2015
8.40 Opening Remarks from the Chairman
Justice Paul Heath, High Court of New Zealand
8.50 Analysing the Latest Trends in the New Zealand
Economy and Industry
Rod Oram has more than 30 years’ experience as an
international business journalist. He has worked for various
publlcaLlons ln Lurope and norLh Amerlca, lncludlng Lhe
Financial Times of London. He is currently a columnist
for the Sunday Star Times, a regular broadcaster on radio
and television, and a frequent public speaker on business,
economics, innovation, creativity and entrepreneurship.
In this discussion Rod explores some of the more topical
issues arising in the current New Zealand economy and
examines what industries are likely to come under pressure
in the next 12 months.
Rod Oram, Business Journalist and Columnist
9.40 Roundtable Discussion: International Developments
in Restructuring and Insolvency
International speakers and experts examine some of the
latest trends emerging globally in corporate restructuring
and insolvency, with insights into some of the key cross
border issues that have arisen. This interactive panel
discussion will also provide an opportunity for the audience
to ask questions.
Michael Stiassny, Senior Partner, Korda Mentha
(Moderator)
Kevyn Orr, Former Detroit City Emergency Manager, United
States
Scott Atkins, Partner, Henry Davis York and INSOL Fellow
Justice Paul Heath, High Court of New Zealand
10.30 Analysing the New Health and Safety at Work Act
The Health and Safety at Work Act comes into force in April
2015. The significant duties and obligations that the Act
imposes on officers of companies extend to receivers and
liquidators when they are appointed to manage businesses.
It is often the health and safety requirements that have
been neglected by insolvent companies and therefore
insolvency practitioners will need to be able to respond to
these matters immediately. Be prepared!
- Lxplorlng Lhe obllgaLlons lmposed on offlcers of
companies
- Pow wlll Lhese obllgaLlons lmpacL on lnsolvency
pracLlLloners?
- CheckllsL of healLh and safeLy lssues Lo be aware of when
appointed
- 1he [urlsdlcLlon and Lhe role of WorkSafe new Zealand
explained
- CrlLlcal lnslghL lnLo how llquldaLors and recelvers can
manage their H & S risks
- ÞoLenLlal lndusLrles LhaL may be more aL rlsk Lhan oLhers
Erica Miles, Consultant Health and Safety, KPMG Advisory
Stacey Shortall, Partner, Minter Ellison
11.30 Refreshment Break
11.50 Essential Roundup of the Latest Court Decisions
Insolvency law is continually evolving, legislation is
interpreted and principles are refined and brought into line
with commercial realities. It is essential that practitioners
keep up and modify their practices where necessary. This
essential annual review of cases examines the most recent
case law and provides valuable insights as to how these cases
will affect insolvency practice.
Matt Kersey, Partner, Russell McVeagh
Polly Pope, Partner, Russell McVeagh
12.40 CyberCrime: Protecting Electronically Stored
Information from Hackers
It is every receiver or liquidator’s nightmare to be called into
a business in turmoil only to find that an employee has stolen
electronically stored information or even worse has set up a
defamaLory lacebook page. Lxplorlng Lhe rlsks Lo be aware of
when it comes to protecting electronically stored information
in an insolvency.
- LlecLronlcally sLored lnformaLlon pollcles and pracLlces
- Case sLudles - whaL would you do as opposed Lo whaL you
should do?
- Cyber Crlme - key Lhlngs Lo look ouL for
- lnsurance lmpllcaLlons
Philip Whitmore, Partner, KPMG
Xavier Marguinaud, New Zealand Cyber Risk Specialty Head,
Marsh
1.30 Chairman’s Closing Remarks and Conference Concludes
Health and Safety
Kevyn Orr
lormer Lmergency Manager ueLrolL ClLy
Kevyn Orr has practiced law in the areas of business restructuring, financial institution regulation, and commercial
litigation for three decades. Throughout his career he has demonstrated the ability to handle all aspects of complex
and precedenL-seLLlng maLLers. kevyn was appolnLed Lmergency Manager of Lhe ClLy of ueLrolL on March 14, 2013
and was charged with restructuring the city. His previous restructuring experience has included his service as the
chief government legal officer of a failed financial institution and a special master to oversee the operations of a real
estate development firm. He also has assisted clients with government requests for proposals and inspector general
audits. In 2001, Kevyn joined the Jones Day law firm where he served on the firm’s Advisory Committee and was the
Firmwide Partner for Hiring and Diversity. At Jones Day, Kevyn’s responsibilities included:
- Counselllng and represenLaLlon of Chrysler LCC wlLh regard Lo all aspecLs of lLs bankrupLcy,
- AcLlng for u8S/WCl agalnsL clalms by Lhe ueparLmenL of !usLlce for alleged lAA/lCA and relaLed
common law conLracL clalms,
- AcLlng for heaLh care flnancler naLlonal CenLury llnanclal LnLerprlses ln lLs bankrupLcy and
asserting that company’s claims in the health care provider bankruptcies of PhyAmerica
CorporaLlon and uCPC/CreaLer SouLheasL PosplLal,
- AcLlng for Laldlaw CorporaLlon ln lLs defense of a $1 bllllon clalm by Lhe purchaser of lLs
envlronmenLal cleanup dlvlslon,
- AcLlng for lnvesLmenL banks and advlsers ln bankrupLcy maLLers and sellers and bldders ln
bankruptcy related auctions.
Peter Deans
Chief Risk Officer, Bank of Queensland
Peter Deans was appointed Chief Risk Officer at BOQ in March 2012. Peter has driven fundamental change in the
8ank's rlsk managemenL frameworks, processes and culLure. As parL of Lhe LxecuLlve Leam, he has also played a key
role in reshaping both the business and risk management strategies at BOQ. Peter has over 27 years of experience
across retail, business and institutional banking. Peter held senior risk management roles with the Commonwealth
Bank of Australia’s commercial and institutional banking businesses between 1999 and 2010. In 2008, following the
acquisition of Bankwest by CBA, Peter was appointed CRO of Bankwest.
Keynote Speakers
Rod Oram
Business Journalist and Columnist
Rod Oram has more than 30 years’ experience as an international business journalist. He has worked for various
publlcaLlons ln Lurope and norLh Amerlca, lncludlng Lhe llnanclal 1lmes of London. 8od and hls famlly emlgraLed from
Lhe uk Lo new Zealand ln 1997. Pe ls currenLly a columnlsL for Lhe Sunday SLar 1lmes, a regular broadcasLer on radlo
and Lelevlslon, and a frequenL publlc speaker on buslness, economlcs, lnnovaLlon, creaLlvlLy and enLrepreneurshlp,
in both NZ and global contexts. For more than a decade, Rod has been helping fast-growing New Zealand companies
Lhrough hls lnvolvemenL wlLh 1he lCLPCuSL, Lhe enLrepreneurshlp cenLre aL Lhe unlverslLy of Auckland's 8uslness
School. In 2007 Penguin published his book on the New Zealand economy, Reinventing Paradise. He was named the
Landcorp Agricultural Communicator of the Year for 2009. Rod was the winner in the individual category in the 2010
vero Lxcellence ln 8uslness SupporL Awards and was 2010 ColumnlsL of Lhe ?ear ln Lhe consumer caLegory ln Lhe
national magazine awards for his columns in Good, a consumer sustainability magazine.
BOOK TODAY: Phone 0800 467 656
email [email protected] or visit www.ritanz.org.nz
RITANZ is grateful for the support of our sponsors
PULLMAN AUCKLAND
Cnr Princes St & Waterloo Quadrant,
PO BOX 106013
Auckland City, 1143,
New Zealand
- T. +64 (0)9 353 1000
Accommodation
Pre-dinner Drinks Sponsor
Sustaining Sponsors
Gala Dinner Sponsor
Workshop and Welcome
Cocktail Sponsor
Wine Sponsor
Gold Sponsors
Þlaunum Sponsor
RITANZ Members
Select Options Price Qty Subtotal
Conference + Interactive Workshop + Dinner $1900 + GST = $2185.00
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Conference + Dinner $1600 + GST = $1840.00
Conference fee only $1S00 + GST = $1725.00
Early Bird Prices (ends 10 April 2015)
Select Options Price Qty Subtotal
Conference + Interactive Workshop + Dinner $2000 + GST = $2300.00
Conference + Interactive Workshop $1900 + GST = $2185.00
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Conference fee only $1600 + GST = $1840.00
Standard Prices
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Conference + Interactive Workshop + Dinner $2300 + GST = $2645.00
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Conference fee only $18S0 + GST = $2127.50
(All fees include comprehensive documentation)
Interactive Workshop Only $400 + GST = $460.00
Conference Dinner Only $200 + GST = $230.00
Access Code to Papers and Presentations
Online Only
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Email [email protected] (Note: please email the
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Phone 0800 467 656
Web www.ritanz.org.nz
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c/o ÞC 8ox S64S1
Dominion Road
Auckland 1446
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14
th
Annual Corporate Restructuring
and Insolvency Conference
6, 7 & 8 May 2015, Hotel Pullman, Auckland
Please complete sections A, B, C & D
PROGRAM CHANGES
Details regarding this conference were confirmed and correct at the time of
printing. RITANZ reserves the right to cancel or amend the conference details at
any time if required.
PRIVACY NOTICE
The information you provide on this form is collected and held by RITANZ
for the purposes of processing your registration or enquiry and keeping you
informed of upcoming services and events. The provision by you is voluntary
but if you do not provide some or all of the requested information we may be
unable to properly process your registration. You have both the right of access
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CANCELLATION
Should you be unable to attend, a substitute delegate is welcome at no extra
cosL. AlLernaLlvely, a full refund less $S0 servlce charge wlll be made for
cancellations received in writing (letter or email) ten working days or more prior
to the event. Regrettably, no refund can be made for cancellations less than ten
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doc_746812440.pdf