The June edition of Simpson Grierson's twice yearly magazine Source is out. We trust this issue will give you the opportunity to catch up on some of Simpson Grierson's highlights over the last six months, as well as updating you about new legislation and recent legaldevelopments in the areas of banking and finance, competition and intellectual property law, to name a few...

Inside this issue of Source you will find a special holiday feature on Tahiti and also wine expert Bob Campbell's recommendations on some of the best New Zealand Pinot Gris from the 2004 vintage – a little bit of inspiration to brighten up those winter months!

The June edition of Simpson Grierson's twice yearly magazine Source is out. We trust this issue will give you the opportunity to catch up on some of Simpson Grierson's highlights over the last six months, as well as updating you about new legislation and recent legal developments in the areas of banking and finance, competition and intellectual property law, to name a few...

Inside this issue of Source you will find a special holiday feature on Tahiti and also wine expert Bob Campbell's recommendations on some of the best New Zealand Pinot Gris from the 2004 vintage – a little bit of inspiration to brighten up those winter months!

Contents

Straight from the Source - Going the Extra Mile

The last 12 months have been a time of hectic activity in New Zealand's corporate advisory and financial markets. In a period of almost unprecedented capital raising activity, with a strong emphasis on IPOs, Simpson Grierson has advised on some of the most complex and media grabbing deals in recent months. A recent issue of Australasian Legal Business magazine describes Simpson Grierson as seeing "a substantial chunk of the IPO action in 2004".

FYI – Snippets

Simpson Grierson advised on Origin Energy's takeover of Contact Energy (described by the New Zealand Herald and the Dominion Post as the "largest deal" of the year); and the Pumpkin Patch IPO (described by the New Zealand Herald as the "float of the year".) Origin Energy's purchase of Edison Mission Energy's 51.22 percent shareholding in Contact Energy was reported by Thomson Financial as New Zealand's largest announced transaction for 2004.

We all know that Art is not Truth

The Creative New Zealand Award for Bravery was awarded to Simpson Grierson for its sponsorship of the Auckland Art Gallery's 2nd Auckland Triennial PUBLIC/PRIVATE Tumatanui/Tumataiti exhibition last year.

 

Gullivers Travels

Since its beginnings 26 years ago, New Zealand's largest outbound travel services company, the Gullivers Travel Group, has gone from strength to strength in the highly competitive travel industry, through organic growth and strategic acquisitions. Simpson Grierson Corporate Advisory is delighted to have been part of the next phase of Gullivers' strategic direction which has seen the group make the most of a very buoyant capital market last year.

Pumpkin Patch Growing Up

International children's wear brand Pumpkin Patch has been doing a little growing of its own recently. This homegrown business reached something of a crossroads in its development last year. It needed access to more capital to continue its growth and expansion plans and some of the original shareholders were keen to sell down their holdings.

Freedom of Speech Delayed is Freedom of Expression Denied

Simpson Grierson media law specialist William Akel successfully acted for TVNZ on its application to interview Algerian refugee Ahmed Zaoui. The controversial application centred on TVNZ's request to interview Zaoui while he was detained in Mount Eden Prison, awaiting the review of his security risk certificate. Zaoui, a former Algerian MP who fled his country after a military coup, was held without charge for more than 22 months, as he was declared a risk to national security.

Powerful Teamwork

Simpson Simpson Grierson Corporate Advisory partner Peter Hinton describes Prime Infrastructure's bid for powerlines group Powerco as leading edge takeovers work. It was a complex deal that occupied the business media headlines for weeks and was complicated by the highly charged political climate leading up to the local body elections.

Avoid the Pitfalls when Recruiting Key Staff

Headhunting key staff, particularly from a competitor, can be a high stakes game. Employers need to tread carefully and ensure they act lawfully – or else face potentially serious, and expensive, consequences. Simpson Grierson's Employment Law Group regularly provides strategic advice to employers in this situation, and has an in-depth understanding of the complex issues raised when employers seek to recruit staff employed in a competing business.

Gas – The Burning Question

Simpson Grierson has had a busy year advising on some of the most complex and significant corporate energy deals in the New Zealand market. As New Zealand advisor for Austrian oil and gas giant OMV, Simpson Grierson has assisted OMV on two of the most significant upstream deals of 2004 – the first sale of Pohokura gas and the renegotiation of the Maui gas supply arrangements. Simpson Grierson has also played a key role for a number of other significant energy deals in the New Zealand landscape over the last year.

Mapping the Way with Corrections

Most people understand the need for new prisons to be built in New Zealand. There are constant calls for tougher sentences and much media coverage of increasing inmate numbers, bed shortages and unsuitable conditions. Less well known is the Department of Corrections' strategy to reduce re-offending by developing "regional" corrections facilities to house inmates closer to family and to promote rehabilitation of prisoners through onsite employment and training programs.

Youthline and Simpson Grierson Team up to help Young People

Simpson Grierson has teamed up with Youthline to support an innovative new SMS text message service that provides a new avenue of support for young people using their own medium of choice – the cellphone. Since its launch in December 2004, the SMS text messaging service has received more than 90 messages from young people seeking advice.

Tapping into Success

When Methven made its debut on the New Zealand Stock exchange late last year, punters were quick to tap into the promising future of a company whose tap and showerware products have made their way into countless homes over the years…and it was a profitable punt - having listed at $1.43 each, Methven shares closed at the end of the first day of trading at $1.63, with more than two million shares having changed hands. Likened to the very successful initial public offering of Pumpkin Patch earlier last year, the Methven float is another example of a New Zealand business success story.

Getting to Grips with the Credit Contracts and Consumer Finance Act

The Credit Contracts and Consumer Finance Act 2003 is the latest in a long line of regulatory changes which banks and financiers are being asked to come to grips with. The CCCFA (as it is quickly becoming known) has taken a lead from the Australian Consumer Credit Codes. This new legislation marks a notable change in the focus of credit disclosure in this country.

Objects on Public Display. Copyrights and Copywrongs.

You're a struggling artist. You've sculpted something Henry Moore would be proud to lay claim to and the city council has agreed to erect it in the botanical gardens. It's become very popular and both town citizens and tourists take photos of it daily. A picture of it has been included in a famous backpackers' bible. The local bookstore has immortalised it in numerous trinkets, including postcards and sells dozens a day.