Commercial business law

Ending joint ventures can be problematic
It is very easy to put aside issues of termination when entering into a business venture with a friend or partner, but as a recent High Court case illustrates, not addressing these issues at the outset can lead to undesirable outcomes for both parties should the venture fail.

RMA reforms signal a step in the right direction
In keeping with its pre-election promise, the Government announced in early February that it will be embarking on a significant series of reforms to the Resource Management Act (RMA). It has released a summary of proposed changes to the RMA, and confirmed that it expects to introduce a Bill into Parliament for enactment by August/September. A second raft of changes requiring more detailed consideration will follow later in the year. In this article, Bell Gully's Resource Management team provide a brief commentary on the proposed key changes.

Protecting the goodwill component of the purchase price
In many business sale transactions goodwill accounts for a substantial percentage of the value of the business. In such cases, to protect the goodwill component of the purchase price, the purchaser will usually insist that specific pre-completion and post-completion obligations are included in the sale and purchase agreement. In this case note, senior associate Michaela Hutton looks at a recent High Court case which provides an example of the remedies available to a purchaser should a vendor not fulfil these contractual obligations.

Enquiries and information

For more information on any of the cases, articles and features in Commercial Quarterly, please email Diane Graham or call her on 64 9 916 8849.