Buddle Findlay is delighted to have won the following awards at the 2022 New Zealand Law Awards:
- Mid-market deal of the year - Sale of Rydges Wellington hotel to New Zealand Super Fund and NZ Hotels Holding Assets
- Insolvency and restructuring deal of the year - Indevin Group acquisition of Villa Maria Estate from FFWL receivership.
The sale of Sale of Rydges Wellington hotel to New Zealand Super Fund and NZ Hotels Holding Assets was the largest hotel sale in New Zealand in 2021, eclipsing the sale of the Sofitel Queenstown Hotel and Spa that Buddle Findlay acted on earlier in the year. Buddle Findlay is delighted to have acted for Hotel Management (Featherston St) (Hotel Management), as well as over 150 different unit owners, on the sale.
"It was a herculean effort from all concerned to get the deal done in a challenging environment" says Daniel Collins, partner. "The team at Hotel Management have delivered an amazing outcome for unit holders, unpicking a complex and widely held unit title structure in order to maximize the value of all units. The team at Anderson Lloyd and Russell Property Group were great to work alongside and brought a pragmatic and solutions-based approach to getting the transaction done – including assisting in the settlement of just under 150 sale and purchase agreements over two days."
The Buddle Findlay team was led by partner Daniel Collins and included senior associate Ed McGimpsey, solicitors Siobhan Reynolds, Lucy Washington Emerson and Tilly Matheson Dallimore and law clerk Eleanor Mulrennan.
Judges' comments include: "A mid-sized deal, but very complex and used innovative processes to get over the line; Clearly a complex deal with a wide range of aspects to deal with; Standout across the board"
We are pleased to have worked with ANZ Bank New Zealand (as agent and a lender) and Bank of New Zealand, Rabobank New Zealand and Cooperative Rabobank U.A., New Zealand Branch (as lenders) in connection with funding the acquisition of Villa Maria Estate by Indevin Group. The sale included Villa Maria’s Marlborough, Hawkes Bay and Auckland wineries, vineyards, supplier agreements, the flagship brand Villa Maria as well as Esk Valley, Vidal, Leftfield and Thornbury.
"We are delighted to have assisted ANZ and the lenders with the financing of the acquisition of an iconic New Zealand winery by Indevin Group. The team at Webb Henderson were great to work alongside and brought a solutions based approach to getting the transaction done." – Daniel Collins.
Judges' comments include: "A complex and large restructure and sale of an iconic brand, involving challenging circumstances; The complexity and navigation of the challenging issues made this nomination stand out."
A full list of winners can be found on the Law Awards website here.