Welcome to another issue of Simpson Grierson's Source magazine. This edition tackles some of the big issues facing New Zealand in coming years from renewable energy to ambush marketing.

If venture capital or property acquisition is more your style, we have that covered too.

Enjoy.

Sustainability - often defined as meeting the needs of the present without compromising the needs of future generations - is one of the most-talked-about subjects in New Zealand business and politics today. How do we balance the often conflicting prorities of environment and economy to safeguard the future of a country we love?

The Therapeutic Products and Medicine Bill generated heated debate. It proposed the establishment of a joint trans-Tasman agency to regulate therapeutic products in Australia and New Zealand, including medical devices and complementary medicines.

Government and businesses are increasingly driving change in energy policy and practice in order to safeguard a sustainable future for New Zealand. For key players in the energy sector - many of whom are Simpson Grierson clients - these "interesting times" present a broad range of challenges and opportunities.

When one of New Zealand's leading food manufacturers, famed for its old-fashioned puddings, acquires another that specialises in top-quality baking ingredients, it certainly looks like a recipe for success.

During 2006 Simpson Grierson worked with Guiness Peat Group to effect the exchange of $182 million of its 2001 capital notes for new 2006 capital notes and, at the same time, issue further 2006 notes resulting in a total debt raising of $350 million.

The New Zealand Government established the New Zealand Venture Investment Fund programme to assist young companies with strong growth potential. Since its inception in 2001, the fund has played a vital role in the growth of a vibrant venture capital market supporting Kiwi innovation.

The KiwiSaver Act 2006 (Act) came into force on 6 September 2006. Employers need to familiarise themselves with the implications of the Act and ensure that proper processes are in place. The implementation date was 1 July 2007.

An innovative market solution to ABN AMRO tabled in one of New Zealand's biggest M&A transactions attracted accolades and plenty of interest. We go behind the scenes of FinanceAsia's Best New Zealand Deal 2006.

When Simpson Grierson was approached to represent prospective purchasers for one of New Zealand's premier heritage buildings, Otahuna Lodge, what appeared to be a reasonably simple business and property acquisition ended up being a complex process that utilised multiple departments at Simpson Grierson.

How good can we be? At Simpson Grierson we aim for the best in everything we do and independent research shows we are on target. We recently ranked first as 'a very modern and innovative law firm' and as having the strongest brand health (that is the highest loyalty and preference) of law firms in New Zealand.

With the completion of the first luxury houses at Jacks Point near Queenstown, the visionary $2 billion development project - five years in the planning - is at last coming to life. For project financier Westpac, Simpson Grierson's banking and financing expertise has been invaluable in enabling it to fund New Zealand's most ambitious residential development.

The Resource Management Act (the Act) seeks to balance the often conflicting needs for environmental protection and economic development. A proposed increase in the volumes of sand extracted in the Kaipara Harbour was classified as a "restricted coastal activity", and required careful consideration under the Act.

Wherever there's a high-profile public event, unrelated parties will attempt to piggyback on the event's popularity.

David Bain's successful appeal to the Privy Council has again put the spotlight on the need to reduce, and preferably eliminate, miscarriages of justice in our legal system. Miscarriages of justice are not of course confined purely to criminal cases.

Private equity continues to take the M&A world by storm, in New Zealand as elsewhere in the world. Simpson Grierson recently assisted Australian private equity firm Champ Ventures in its acquisition of New Zealand fruit processing business, Taura Urc.

Nothing beats a good day's fishing, and with our vast reaches of spectacular coastline and some of the best fishing in the world on our doorstep, we're uniquely placed to enjoy the pleasures of a highly compelling sport.

Congratulations to our most recently appointed partners. Their appointments bring our total number of partners to 46.

In England smoked fish pie is usually prepared with smoked haddock, which is unavailable in New Zealand. I find trevally works well, but any smoked fish will do the trick, as long as it is moist. You can make individual pies or one large one. [Recipe by Natalia Schamroth, The Engine Room restaurant, Northcote Point, Auckland.]

Young people do not come with an instruction manual. Nobody is born a parent. Negotiating the minefield of adolescence on its own can stretch the resources of even the most composed and patient among us.