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Special Counsel

Steve Flynn

LLB(Hons)

Wellington

P+64 4 924 3405

M+64 21 432 391

Steve Flynn

Steve is a special counsel in the banking and finance group, where he advises on corporate securities law, corporate restructuring, and corporate insolvency. This sees him regularly acting for prominent corporate insolvency practitioners when they are appointed as receivers, liquidators, and administrators, or where they are providing restructuring advice.

In addition, Steve has considerable experience in international and domestic capital markets and corporate financing.

He also has extensive experience in local authority financing, having acted for around 50 local authorities in relation to their debt, hedging, and security arrangements, and he established the market–standard documentation for the sector at the time of the 1996 reforms.

Steve was a partner in Simpson Grierson (and a constituent firm) for over 18 years, and has been a special counsel since 2006.

  • Chambers Asia-Pacific Restructuring & Insolvency 2020 - Leading Lawyer (Senior Statesman)
  • The International Who’s Who Legal Restructuring & Insolvency 2019 - Leading Lawyer
  • Asia Pacific Legal 500 Restructuring & Insolvency 2016 - Recommended Lawyer

Examples of Work

  • Solid Energy - acting for the directors and the company in the context of the state–owned enterprise's restructuring, including two creditors’ compromises, and a successful voluntary administration, which won the New Zealand Law Awards’ New Zealand Deal of the Year in 2014 and 2016
  • PwC - receivership of Ebert Construction
  • Grant Thornton - liquidation of Taratahi Agricultural Training Centre
  • PwC - receiverships of Lombard Finance & Investments and Strategic Finance
  • United States institutional investors - acceleration and early repayment of US$100 million notes issued by South Canterbury Finance
  • New Zealand Oil & Gas –-appointing security holder in receivership of Pike River Coal
  • McGrath + Nicol - liquidation of the HIH Insurance Group's New Zealand assets (part of Australasia's largest corporate collapse)
  • New Zealand Treasury and PwC - receivership of Terralink (the first, and to date only, receivership of a state–owned enterprise)
  • Leading (in Singapore and London) the financing of BIL International's successful £627 million cash offer for Thistle Hotels

Other Credentials

  • Victoria University of Wellington - Honorary lecturer in the Faculty of Law (banking and finance law, and commercial law)
  • New Zealand Law Society - Past member, Subcommittee reviewing the Personal Property Securities Act
  • New Zealand Law Society - Past member, Committee on Insolvency Law Reform
  • New Zealand Law Society - Chair, Continuing Legal Education Intensive on "Businesses in Trouble"

Publications (indicative)

  • The Nature of a Security Interest: Hamersley v Forge - A Missed Opportunity? (2019) 30 JBFLP 207
  • Hamersley v Forge: PPSA and Set-Off - a New Zealand Perspective (2018) 29 JBFLP 175
  • PPSA: When are Battle Lines Drawn? Australian Banking & Finance Law Bulletin (2013) 29(5)
  • PPSA or Not PPSA? Two New Zealand Cases. Australian Banking & Finance Law Bulletin (2013) 29(1)