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What we do

At Waterstone we specialise in recovery and insolvency appointments, consulting & advice to firms in distress or those considering turnaround options. We also provide expert evidence for court proceedings when called on.

Liquidations

When a company is insolvent, a liquidator can be appointed by either shareholders or the Court. Liquidation is most common type of insolvency in New Zealand and can also be part of a wider re-organisation or restructure. Once a liquidator is appointed, they are then in control of the company.

Receiverships

Waterstone is regularly appointed as receivers of companies where we are then tasked with realising assets of the borrower for the benefit of a secured creditor. Unlike liquidation, receivership is based on a contractual relationship between the borrower and lender.

Consultancy & advisory

Getting the right advice is the first, and most important step in handling the affairs of a company when in distress. With years in the industry, we pride ourselves on providing the right advice at the right time.

Part 14 compromise

A part 14 compromise is an agreement between a company and its creditors, that the company will pay back their debt in part or in full over a certain period. Debts are then frozen, and legal action against the company regarding the debt suspended once the compromise is approved.

Voluntary administration

Voluntary administration (VA) is an insolvency process for companies facing financial hardship that could lead to insolvency. Once an administrator is appointed, their role is to assess the business and seek outcomes that allow the company to continue.

In-house expertise

We are one of the only insolvency firms in New Zealand with an in-house team of lawyers.

Recovery & insolvency work is highly legal in nature. Insolvency law is a specialised field, which is why we consistently invest in our legal team to ensure we have the knowledge and capability to progress appointments efficiently and effectively.

Litigation

Having in-house lawyers gives us the ability to review and take on litigation matters even if there are limited funds available. This has allowed us to generate outstanding results for creditors. Our team’s deep legal knowledge of insolvency assists when providing expert evidence for court matters.

Transactions

In our experience of dealing with close to 1000 insolvencies over more than 16 years, we have found that in many cases speed is key. Having access to a team of lawyers on hand to draft settlement agreements, sale and purchase agreements and deeds, often means the difference between securing a deal or losing it in the moment.

Advice

When dealing with insolvency & restructuring, it is important to know your rights. Having the confidence to explain these rights to others is a powerful tool in resolving legal disputes. Our team of lawyers know the business and have access to the relevant research tools and resources.

Case studies

We take prides in the work and outcomes that our teams achieve. We have published a series of case studies that write up successful appointment outcomes. At Waterstone we also regularly test the law in court and this work has contributed to the general body of New Zealand case law on insolvency.

Case study: Commercial Plumbing company

Case Study: Can the Court recall a liquidation order?

Case Study: Grant & Botterill v Arena Alceon NZ Credit Partners LLC

The Supreme Court Confirms that Overseas Companies May Be Required to Provide Information to Administrators and liquidators.

Case summary: Grant & Botterill v Bank of New Zealand

Who has the right to appoint a liquidator to a subsidiary company when the group is in receivership?

Case study: extraterritorial effect for overseas-based creditors

The financial perils of an overdrawn current account

Judgements

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Example

This section deals with the impacts of a receivership on a company and its creditors.

Example

This section deals with the impacts of a receivership on a company and its creditors.

Example

This section deals with the impacts of a receivership on a company and its creditors.

Example

This section deals with the impacts of a receivership on a company and its creditors.

Example

This section deals with the impacts of a receivership on a company and its creditors.

Example

This section deals with the impacts of a receivership on a company and its creditors.

Example

This section deals with the impacts of a receivership on a company and its creditors.

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