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Simpson Grierson completes significant client mandate

April 06, 2018

Contacts

Partners Josh Cairns, James Craig, Michael Wood
Special Advisors Steve Flynn
Senior Associates Victoria Anderson, Tara Wylie, Bronwyn Heenan

Simpson Grierson news and events

In late March Solid Energy was successfully placed into a planned solvent liquidation, bringing to a close one of our long-term client relationships.

Over the past five years, Partners Kevin Jaffe and Josh Cairns have led a team to advise Solid Energy on all aspects of its business. Our work included:

  • a major restructuring involving two complex creditors’ compromises
  • Solid Energy's entry into voluntary administration (the largest, and most complex, administration in New Zealand history – also the first administration of an SOE)
  • the sale process for all of Solid Energy’s business and land (involving a series of complex sale negotiations with various counterparties)
  • the handover of the Pike River mine to the new Pike River Recovery Agency, and
  • Solid Energy's eventual liquidation.

We also received external recognition for this work, including NZ Deal of the Year 2014 for the initial restructuring and NZ Deal of the Year 2016 for the voluntary administration.

Key team members included Kevin Jaffe (Commercial), Tori Anderson (Commercial), Nikolai Santamaria (Commercial), Josh Cairns (Banking), Steve Flynn (Banking), David Hill (Banking), James Craig (Litigation), Michael Wood (Commercial Property), Tara Wylie (Commercial Property), and Bronwyn Heenan (Employment).