From:
Martin Burrows
To:
Mark Reese; Ben Methven; Bonita Morrissey Smith; Freddie Beaumont; Shaun Brown; Josh Hercus; Murray Beatson; Robert Pigou; [email address]
Cc:
Brendon Gibson; Oliver Cherry
Subject:
RAL Progress Update
Date:
Thursday, 19 October 2023 10:02:47 am
Attachments:
Receivership cashflow from RAL 181023.xlsx
Receiver & Liquidator Communications DRAFT.docx
Hi all,
We and Chapman Tripp have made good progress on several fronts over the past 24 hours:
Transition arrangements
The transition arrangements are now largely agreed with PWC, including the Ska Waka agency
We have discussed the Sky Waka requirements in Schedule 1 with Jono and he has confirmed they are acceptable/workable
PWC has now confirmed their likely future costs
Comms
As contemplated in the transition agreement, attached is a draft comms document to ensure alignment of initial communications by ourselves and PWC with staff
and other parties
Subject to your comments we will provide this to PWC
Funding
The liquidator has agreed to draw-down the remaining $ m available under the liquidators’ facility and pass the surplus cash of ~$
s 9
m to the Receivers
s 9(2)
Chapman Tripp has spoken to Jo-Anne who confirmed this approach. Chapman Tripp will now prepare the required documents s 9(2)(b)(ii)
)
The Receivership funding agreement is now largely agreed subject to final review by s 9(2)(h)
Cashflow
We have received the (attached) updated cashflow from Jessie which reflects the roll-forward to end May 2024
s 9(2)(b)(ii)
s 9(2)(b)(ii)
We do not see these being
materially different across this initial phase.
s 9(2)(b)(ii)
s 9(2)(b)(ii)
Transition information
We are engaging freely with Jessie and Jono
We have received the first tranche of operational information from Jessie in respect of staff and key operational contracts.
We are working through this information with a view to agreeing the necessary contract variations, etc.
CEO
We have had a call with Jono this morning and he is confirmed he is available to continue working through this next phase with the Receivers
Subject to Kanoa’s progress we think we are in good shape to formalise appointment next week if that is appropriate.
We are available to discuss next steps as required.
Regards
Martin Burrows
Executive Director
Advisory | Restructuring
m +s 9(2)(a)
p +64 9 919 7481
calibrepartners.co.nz
Notice: This email is intended solely for the use of the addressee and may contain information that is confidential or subject to legal professional privilege. If you receive this email in error please immediately
notify the sender and delete the email.
Happy to discuss. Shout out if there’s any questions or concerns.
Cheers,
Josh
Josh Hercus
PRINCIPAL ADVISOR TO ROBERT PIGOU, DEPUTY CHIEF EXECUTIVE and
HEAD OF KĀNOA - REGIONAL ECONOMIC DEVELOPMENT & INVESTMENT UNIT
[email address] | Mobile: +s 9(2)(a)
15 Stout Street, Wellington 6011, PO Box 1473, Wellington 6140
From: Philippa Harray <Philippa.Harray@mbie govt.nz>
Sent: Friday, 27 October 2023 9:08 am
To: Erika Harrison <[email address]>; Martin Burrows <MBurrows@calibrepartners co nz>
Cc: Shaun Brown <[email address]>; Josh Hercus <[email address]>; Adam Wood <[email address]>; Brendon
Gibson <[email address]>; Oliver Cherry s 9(2)(a)
; Robert Pigou <[email address]>; Mark Reese
([email address]) <Mark.Reese@chapmantripp com>; [email address]; Ben Methven
s 9(2)(a)
; Bonita Morrissey Smith s 9(2)(a)
; Freddie Beaumont
s 9(2)(a)
Subject: RE: RAL Progress Update [UNCLASSIFIED]
Hi Martin, Apologies but this was sent before we had a chance to review it. Can you please add the words in red to the bullet about PTL. I note that
these words are also in the bullet above, but it would be good to include them in your notes for when you are talking about the PTL deal.
s 9(2)(f)(iv)
Ngā mihi
Philippa
This message may be subject to legal professional privilege.
_________________________________________________________________
Philippa Harray (she/her)
Principal Solicitor Legal Services (Commercial)
Legal Ethics and Privacy Branch | Corporate Governance and Information Group
Ministry of Business Innovation & Employment
[email address] | Mobile +s 9(2)( )
From: Erika Harrison <[email address]>
Sent: Friday, 27 October 2023 8:36 am
To: Martin Burrows <[email address]>
Cc: Shaun Brown <[email address]>; Josh Hercus <[email address]>; Adam Wood <[email address]>; Philippa
Harray <[email address]>; Brendon Gibson <BGibson@calibrepartners co.nz>; Oliver Cherry s 9(2)(a)
Robert
Pigou <[email address]>; Mark Reese (Mark.Reese@chapmantripp com) <[email address]>;
[email address]; Ben Methven s 9(2)(a)
Bonita Morrissey Smith
s 9(2)(a)
; Freddie Beaumon s 9(2)(a)
Subject: RE: RAL Progress Update [UNCLASSIFIED]
Good morning Martin,
Thanks very much for sharing this with me – I have no issues with the comms plan you attached, please do share with your senior management.
Nāku, nā
Erika Harrison (she/her/Ms)
PRINCIPAL ENGAGEMENT AND COMMUNICATIONS ADVISOR
Communications and Engagement, Kānoa – Regional Economic Development and Investment Unit
Ministry of Business, Innovation & Employment
From: Martin Burrows <[email address]>
Sent: Thursday, 26 October 2023 6:32 PM
To: Erika Harrison <[email address]>
Cc: Shaun Brown <[email address]>; Josh Hercus <[email address]>; Adam Wood <[email address]>; Philippa
Harray <[email address]>; Brendon Gibson <BGibson@calibrepartners co.nz>; Oliver Cherry s 9(2)(a)
Robert
Pigou <[email address]>; Mark Reese (Mark.Reese@chapmantripp com) <[email address]>;
[email address]; Ben Methven s 9(2)(a)
Bonita Morrissey Smith
s 9(2)(a)
Freddie Beaumont s 9(2)(a)
Subject: RE: RAL Progress Update [UNCLASSIFIED]
Hi Erica,
The draft comms updated to reflect discussions with Robert this afternoon is attached.
We have removed the draft media statement as we understand it is Robert’s preference for us not to issue one at this stage.
The attached is therefore distilled down to key themes and messaging for the staff meeting.
The staff meeting is scheduled for 3pm tomorrow afternoon and will be held via Teams.
We would like to share the attached with RAL senior management tomorrow morning if possible and the Liquidators (who have seen a previous
iteration) but won’t do that until we have your feedback.
Thanks
Martin Burrows
Executive Director
Advisory | Restructuring
m +s 9(2)(a)
p +64 9 919 7481
calibrepartners.co.nz
Notice: This email is intended solely for the use of the addressee and may contain information that is confidential or subject to legal professional privilege. If you receive this email in error please immediately
notify the sender and delete the email.
From: Erika Harrison <[email address]>
Sent: Thursday, October 26, 2023 4:01 PM
To: Martin Burrows <[email address]>
Cc: Shaun Brown <[email address]>; Josh Hercus <[email address]>
Subject: RE: RAL Progress Update [UNCLASSIFIED]
Kia ora Martin,
I’m part of the team at Kānoa/MBIE, providing some comms support for this. It looks like there is a final version of this document incorporating
feedback you’ve received – would I be able to see it?
I understand there is likely to be a meeting tomorrow with affected staff, letting them know of events. What time is this planned for, and (if you are
planning to issue it proactively) when are you planning to issue the media statement? We may proactively put a brief ‘news item’ on our own website
to frontfoot media interest, and want to make sure our timing dovetails.
Nāku, nā
Erika Harrison (she/her/Ms)
PRINCIPAL ENGAGEMENT AND COMMUNICATIONS ADVISOR
Communications and Engagement, Kānoa – Regional Economic Development and Investment Unit
Ministry of Business, Innovation & Employment
[email address] | Mobile: +s 9(2)(a)
15 Stout Street, Wellington Central, Wellington 6011
From: Martin Burrows <[email address]>
Sent: Friday, 20 October 2023 11:16 am
To: Shaun Brown <[email address]>; Josh Hercus <Josh.Hercus@mbie govt.nz>
Subject: FW: RAL Progress Update
Hi gents,
Do you know if there were any further comments from your side on this draft comms?
It would be good to get across to PWC.
Thanks
Martin Burrows
Executive Director
Advisory | Restructuring
m +s 9(2)(a)
p +64 9 919 7481
calibrepartners.co.nz
Notice: This email is intended solely for the use of the addressee and may contain information that is confidential or subject to legal professional privilege. If you receive this email in error please immediately
notify the sender and delete the email.
From: Mark Reese <Mark.Reese@chapmantripp com>
Sent: Thursday, October 19, 2023 1:34 PM
To: Martin Burrows <[email address]>; Ben Methven s 9(2)(a)
; Bonita Morrissey Smith
s 9(2)(a)
; Freddie Beaumont s 9(2)(a)
Shaun Brown
<[email address]>; Josh Hercus <[email address]>; Murray Beatson <[email address]>; Robert Pigou
<[email address]>; Michael Harper <[email address]>
Cc: Brendon Gibson <BGibson@calibrepartners co.nz>; Oliver Cherry s 9(2)(a)
Subject: RE: RAL Progress Update
Martin
s 9(2)(h)
Thank
Mark
MARK REESE
PARTNER
Chapman Tripp
D: +64 4 498 4933
M: +64 27 231 1925
LEGAL ADMINISTRATOR: s 9(2)(a)
| D: +s 9(2)(a)
www.chapmantripp.com
From: Martin Burrows <[email address]>
Sent: Thursday, 19 October 2023 9:59 am
To: Mark Reese <[email address]>; Ben Methven <[email address]>; Bonita Morrissey Smith
s 9(2)(a)
Freddie Beaumont <[email address]>; Shaun Brown
<[email address]>; Josh Hercus <[email address]>; Murray Beatson <[email address]>; Robert Pigou
<[email address]>; Michael Harper <[email address]>
Cc: Brendon Gibson <BGibson@calibrepartners co nz>; Oliver Cherry s 9(2)(a)
Subject: RAL Progress Update
Hi all,
We and Chapman Tripp have made good progress on several fronts over the past 24 hours:
Transition arrangements
The transition arrangements are now largely agreed with PWC, including the Ska Waka agency
We have discussed the Sky Waka requirements in Schedule 1 with Jono and he has confirmed they are acceptable/workable
PWC has now confirmed their likely future costs
Comms
As contemplated in the transition agreement, attached is a draft comms document to ensure alignment of initial communications by ourselves and PWC with staff
and other parties
Subject to your comments we will provide this to PWC
Funding
The liquidator has agreed to draw-down the remaining $ m available under the liquidators’ facility and pass the surplus cash of ~$
s 9
m to the Receivers
s 9(2)
Chapman Tripp has spoken to Jo-Anne who confirmed this approach. Chapman Tripp will now prepare the required documents s 9(2)(b)(ii)
The Receivership funding agreement is now largely agreed subject to final review by s 9(2)(b)(ii)
Cashflow
We have received the (attached) updated cashflow from Jessie which reflects the roll-forward to end May 2024
s 9(2)(b)(ii)
s 9(2)(b)(ii)
We do not see these being
materially different across this initial phase.
s 9(2)(b)(ii)
s 9(2)(b)(ii)
Transition information
We are engaging freely with Jessie and Jono
We have received the first tranche of operational information from Jessie in respect of staff and key operational contracts.
We are working through this information with a view to agreeing the necessary contract variations, etc.
CEO
We have had a call with Jono this morning and he is confirmed he is available to continue working through this next phase with the Receivers
Subject to Kanoa’s progress we think we are in good shape to formalise appointment next week if that is appropriate.
We are available to discuss next steps as required.
Regards
Martin Burrows
Executive Director
Advisory | Restructuring
m +s 9(2)(a)
p +64 9 919 7481
calibrepartners.co.nz
Notice: This email is intended solely for the use of the addressee and may contain information that is confidential or subject to legal professional privilege. If you receive this email in error please immediately
notify the sender and delete the email.
Disclaimer
This email is intended solely for the use of the addressee and may contain information that is confidential or subject to legal professional privilege. If you receive
this email in error please immediately notify the sender and delete the email.
