Insights & Articles

The leasing market is ever changing. Many would argue the current economy to favour tenants – there are a myriad of vacant properties currently available,and a definite lack of (quality) prospective tenants available. Many tenants are looking to down size, if not liquidate, leaving landlords ("LLs")in the unenviable position of being forced to consider short term and stop gap solutions for their own cash flow purposes. Enter the commercialreal estate agent, armed with an agreement to lease ("ATL") .... but beware, both LL and tenant, once signed the ATL will legally bind you tothe terms specified and your lawyer will be unlikely to be able to re negotiate your lease. It is important – if not critical – therefore, thatboth sides fully consider the ATL in detail before signing such. A few key considerations are as follows:

New Zealand is now well and truly in the next stage of its strategy in responding to the Covid-19 global pandemic - learning to live with Covid-19, specifically the Omicron variant, in the community. This will see employers facing a number of new challenges, including the management of large numbers of absences in the workplace and coping with flexible working arrangements.

In Mainzeal1 the former directors were held liable for a breach of section 135 of the Act. Richard Yan, (who was the founder and main shareholder of Mainzeal's parent company, Richina Pacific) was ordered to pay compensation of $36M. Each of the other directors (Shipley, Tilby and Gomm) were held liable to contribute $6M each towards that $36M.

A New Normal - The impacts of the Covid-19 virus have been felt the world over and have pushed businesses to their limits. Parties on each side of a lease have been left with the job of negotiating through untested and uncertain lease clauses in a time where the support being offered by Government has been unclear and anyone who did hold insurance is discovering that 'pandemics' and 'infectious diseases' are a common policy exemption.

We have been fielding an unprecedented (but understandable) number of queries from both tenant and landlord clients wanting to understand the legal position in respect of either termination of commercial leases, and obligations in respect of rental/outgoings payments.

When it comes to a business sale you need to "know your business". It is far too easy for assumptions to be made that are not incorporated in thesale agreement itself. In this article, we comment briefly on some of the things you should think about before seeing an agent or putting pento paper.

The minimum contribution rate for employers and employees has increased from 2% to 3% of gross salary or wages from the first pay period commencing onor after 1 April 2013.

The Covid-19 level 4 alert lockdown is having a significant impact on the way people work during this time. Whilst the Government is providing assistance to businesses such as the wage subsidy to pad the landing for employers, there are numerous challenges facing employees in the coming weeks.

If you or someone you know has signed a Prenuptial Agreement, Premarital Agreement, Antenuptial Contract or Contracting Out Agreement in a country outside of New Zealand, then you/ they should find out if and how that Agreement applies in New Zealand. Irrespective of where these types of documents are signed, they generally have a similar purpose; that being to determine the status, ownership and value of assets at the start and end of a couple's relationship. But, are they valid when you have moved away from the country of signing?

A separation doesn't have to be fraught with conflict, including when Lawyers are involved. If you have recently separated and need some assistance with resolving a dispute involving property and/or children you may want to consider doing so under the framework of Collaborative Advocacy.

Feeling stressed or anxious about how Covid-19 (coronavirus) and New Zealand entering alert level 4 with nationwide lockdowns will affect you and your family members? Times of crisis can result in a push-and-pull effect with our personal relationships. They bring people together – only those in your household! - but difficult times can also lead to difficulties arising in our relationships with our, quite literally, nearest and dearest.

McVeagh Fleming is a member of a global network of highly respected law firms called Ally Law (formerly the International Alliance of Law Firms. When our clients need legal assistance outside of our jurisdiction, we refer and work closely with other Ally Law firms to ensure that our clients receive the best legal advice and service possible. Ally Law has firms in most of the major financial centres of the world. If you would like to learn more about Ally Law please contact John Woolley or view the Ally Law website at www.ally-law.com.