Mace Gorringe

Profile

Mace specialises in restructuring, corporate rescue, insolvency and general finance. His record includes transactions totalling over $100b.

His career has covered the full spectrum of restructuring, insolvency and finance law, working with insolvency practitioners, borrowers, lenders, companies (and their boards), purchasers, trustees and supervisors, governments and more. He also has significant experience with infrastructure, housing and private M&A.

This broad background gives Mace particular insight into transformational moments for businesses and their funding and financing, especially with complicated capital structures.

Mace has been a guest lecturer at Victoria University of Wellington, teaching project finance as part of Laws 391: Law of International Finance. He edits the Practical Law New Zealand practice note on intercreditor deeds and priority issues, with Thomson Reuters. He has twice been published in the Journal of Banking and Finance Law and Practice.

Market recognition

Mace is listed as a 'leading associate' for restructuring and insolvency by Legal 500

Recognised by IFLR1000 as a 'rising star' for restructuring and insolvency

Work highlights

Assisting insolvency practitioners

on liquidations, receiverships, voluntary administrations, capital restructurings and other workouts, including significant hospitality, property, industrial, tourism and agricultural sector projects

Acting for banks

on a broad range of rescue, restructuring, recovery and enforcement matters, with a particular interest in the primary and construction sectors

Acting for a global asset manager

on restructuring property development investments in New Zealand, included structuring and implementing packaged credit bids

Helping a well-known global brand

in a sunset industry with a transformative reorganisation and refinancing, implemented in England by two parallel schemes of arrangement

Advising a large construction principal

on mitigating its exposures to multiple insolvencies across New Zealand, including work on contractual and insolvency set-off, construction contracting, retentions, performance bonding and general strategies to protect its interests

Assisting a significant European intergovernmental organisation

with its euro debt crisis bailout programme for a country in Europe (co-invested with another global organisation)

Implementing an extensive capital and operational restructuring for a mezzanine lender

to take effective control of the assets and business of a large hospital business

Acting for a multinational investment

bank on derivatives exposures where counterparties had become heightened credit risks, including its exposures to structurally important banks during the Greek debt crisis

Providing funding, security, intercreditor and other structuring advice

for multiple shared equity and papakāinga housing projects

Extensive work for a global pharmaceutical company

including mergers, loans, debt securities and first defending and then negotiating break arrangements for an aborted multibillion dollar takeover attempt

Working on the Infrastructure Funding and Financing Act 2020

including its development and legislative implementation, then the first project and levy order under it, the Infrastructure Funding and Financing (Western Bay of Plenty Transport System Plan Levy) Order 2022

Acting for a mining company

in granting a purchase option and seed funding for a New Zealand gold mine

Acting for each of the banks

on around $1b of corporate club facilities for a leading New Zealand infrastructure business

Advising numerous councils and council-controlled organisations

on loans, commercial paper programmes, projects, LGFA issuances, derivatives, consumer credit and all manner of other borrowing, lending and credit support requirements

Responsibility for the global non-Indian financing activities for India's largest conglomerate

including secured term loans and revolving facilities, with significant intercreditor work.

Experience

Sector/Expertise

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