Farm Debt Mediation Bill (no 2)
On 17 June the government announced the introduction of a bill (the Farm Debt Mediation Bill (No 2)) that will provide for a new farm debt mediation scheme in New Zealand. The scheme will require creditors to offer farmers mediation before they take any enforcement action. The proposal is modelled on a similar scheme in New South Wales, and replaces the previous farm debt mediation proposal put forward in 2018. In this session Josh and Mace will provide an overview of the proposed scheme and legislation and lead a discussion on the issues arising from the proposal.
Josh Cairns, Partner, Simpson Grierson
Josh is a partner in Simpson Grierson’s finance team, and specialises in corporate finance and corporate restructuring and insolvency law. Over the last 15 years he has acted for banks, boards, finance companies, insolvency practitioners and Crown entities on a range of informal and formal workouts and insolvency assignments. His practice regularly involves special situations in the agricultural sector, include complex debt restructurings, receiverships, liquidations, and distressed debt sales.
Mace Gorringe, Senior Associate, Simpson Grierson
Mace is an experienced restructuring and financing lawyer who has acted for debtors, creditors, insolvency practitioners, Governments and intergovernmental organisations across a range of workout transactions and insolvency procedures. He has a particular interest in reorganising complex capital structures and has, in New Zealand and Europe, worked on turnaround transactions involving more than $10 billion of debt, including in sunset industries such as oil and gas extraction and print media. Since returning to New Zealand Mace’s work has included shared equity schemes and other innovative development and infrastructure funding models, as well as his core practice of financing and insolvency work. He is currently acting for banks on a range of farm debt matters.
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