Insights & Articles

Technological innovation in the financial services sphere has enabled financial institutions to adopt and use Financial Technology ("FinTech") to improve or allow for more effective or efficient provision of financial services. FinTech often involves innovation - new business models, applications, processes, and products or new ways of delivering those products. It includes computer programs, apps and other technology used to support or enable banking and financial services. FinTech businesses cater for a wide range of consumer needs; including online banking, obtaining financial advice, personalised investment portfolios, cash transfers, and share trading platforms. Successful FinTech businesses such as PayPal and AfterPay have become household names.

On 1 October 2021, the long anticipated Credit Contracts and Consumer Finance (Lender Inquiries into Suitability and Affordability) Amendment Regulations 2020 ("Regulations") came into effect after being passed into law by the Government in November last year. The changes are well-intentioned, with the purpose being to tackle high-cost consumer loans and minimise borrower hardship that had been well documented in recent Ministry of Business, Innovation and Employment inquiries into mobile trading. However, like all regulation, there is a trade-off, and these highly prescribed regulations place a significant compliance burden on responsible lenders, particularly small and medium enterprises.

The Principal, the Contractor and the Engineer had to navigate through the general and specific conditions of their NZS3910:2013 contracts in regards to variations, extensions of time and payment claims for the Covid-19 lockdown period.

At 3.00 pm on 28 September 2021, the Government announced changes to travel during the current Alert Level 3. Travel across the border from Level 3 into Level 2 has been strictly limited, but the new rules that take effect at 11:59 pm tonight (28 September 2021) now permit travel across the border if one or more of the following situations applies to you:

The combination of isolating within one bubble along with additional financial stress, changes to childcare and working from home can bring personal relationships closer or unfortunately, push them apart. Breakdowns in personal relationships can add an additional layer of stress to an already difficult situation. However, it is important to remember that help is available.

The Covid-19 Delta Variant Lockdown has created uncertainty and anxiety for many and has significantly impacted family dynamics, particularly in Auckland where Alert Level 4 is still ongoing. It is important to remember that help is available and at McVeagh Fleming, we are working remotely to provide you with an array of family law services. Our team have a range of experience and can provide pragmatic advice, tailored to your personal situation.

When you are selling a property it is common to list the 'Chattels' which you are to be selling with the building. Chattels are items which are able to be removed from a property without too much effort, and which were never intended to permanently form part of the structure. Common examples are an oven, paintings or a fridge. Occasionally they can be large eg a spa pool or garden shed. If it can fit on a truck, it may well be a chattel.

Many in the construction industry will be feeling frustrated at the latest lockdown slowing down projects and progress. Fortunately, not everything has to be put on pause. The Construction Contracts Act 2002 ("CCA") provides ways to recover money during lockdown.

Due to the recent presence of the highly contagious Covid-19 Delta variant within communities throughout New Zealand, the country has been placed into an Alert Level 4 Lockdown. The stringent lockdown restrictions may have implications for parents who have shared care arrangements, Parenting Orders, or who are involved in Family Court proceedings. This can create an added level of stress and anxiety as parents try to navigate both lockdown rules and day-to-day care of their children.

The Government is once again looking to impose further statutory controls over how contractors are to handle and protect retention moneys owed to its sub-contractors - this time with civil monetary penalties facing the construction companies and their directors for non-compliance.