Topic: Purchasers’ equitable liens – where should they rank?
The recent cases of Maginness v Tiny Town Projects Ltd and Francis v Gross have caused a ripple in the insolvency community – both as to their finding that purchasers’ equitable liens exist in New Zealand, and as to their conclusion that such liens automatically have priority ahead of PPSA security interests.
In this session, Steve Flynn and Josh Cairns will examine the priority issue and discuss a suggested framework to guide the proper evaluation of PPSA v non-PPSA priority contests.
Steve Flynn, Simpson Grierson
Steve is among New Zealand’s most experienced corporate insolvency and restructuring lawyers. Chambers Asia-Pacific 2023 describes him as “a greatly respected veteran player in the restructuring, insolvency and securities spaces”.
He advises on corporate securities law, corporate restructuring, and corporate insolvency. This sees him regularly acting for prominent corporate insolvency practitioners when they are appointed as receivers, liquidators, and administrators, or where they are providing restructuring advice. He also assists companies, and their boards with restructuring and insolvency advice.
In addition, Steve has considerable experience in international and domestic corporate financing and capital markets.
Steve was a partner in Simpson Grierson (and a constituent firm) for over 18 years, and has been a special counsel since 2006.
Steve is an Honorary Lecturer in the Faculty of Law at Victoria University of Wellington, having taught there since 2000. He is a past member of the New Zealand Law Society subcommittee reviewing the Personal Property Securities Act, and the Committee on Insolvency Law Reform.
Josh Cairns, Simpson Grierson
Josh leads Simpson Grierson’s banking and finance practice group. He specialises in both corporate finance transactions and corporate restructuring and insolvency engagements.
Josh advises on all aspects of financial restructurings and work-outs, formal insolvencies, and the sale of distressed assets and debt. He has advised on many of New Zealand’s most complex and high-profile insolvency and restructuring assignments, and is a leading expert in New Zealand’s voluntary administration regime and personal property securities (PPS) law.
Josh is Director of the Banking and Financial Services Law Association (BFSLA), and a member of the Restructuring, Insolvency & Turnaround Association of New Zealand (RITANZ).
Wednesday, 8 November 2023
Presentation 4:40pm – 5:30pm
Refreshments and networking from 4:20pm to 6:30pm.
Note the bar will be closed at 6:30pm sharp and the host venue will need to be vacated by 7pm at the latest.
Level 27, 88 Shortland Street, Auckland
Complimentary for RITANZ Members
Chartered Accountants ANZ Members $40.00 plus GST
Law Society Members $40.00 plus GST
NZCFI Members $40.00 plus GST
Standard (casual attendance) $50.00 plus GST
How to register:
Registration is required – RSVP here