McDonald Vague The Insolvency & Business Recovery Specialists

FINANCIAL SERVICES

What's Different about the McDonald Vague Strategy

We are able to offer extensive expertise while practicing responsible and realistic fee management. Our team has been involved in high profile finance company receiverships and moratoriums, so we appreciate the concerns of relevant parties.

We make it a point to remain in regular contact with trustees, financiers and with debenture holders, advising of our intended approaches to the receivership. We also provide regular updates on relevant matters as soon as they come to hand.

In some cases, the cost of the receivership is more expensive than the value of the assets that can be recovered. At McDonald Vague, we quickly implement strategies to ensure loan repayments continue to be made and loans in arrears are acted on appropriately. Where possible, we will negotiate to sell off part of the loan book to third parties so the debenture holders receive payments as quickly as possible without incurring ongoing receivership costs.

In conjunction with input from outsourced expertise, we will develop recovery strategies for individual loans. We will act commercially when implementing these strategies and will act very quickly to achieve the best possible return. We have excellent relationships with lawyers and other professionals who can advise us where necessary. However, in cases where we have the requisite experience to make a decision, we do not unnecessarily incur the further expense of engaging further professional services.

Our Dedicated Financial Services Team

We have a leading team of financial specialists, with a wide range of local and international experience in business recovery, corporate insolvency, compliance, investigations and fraud. Our team consists of Tony Maginness, Boris van Delden, Roy Horrocks and Peri Finnigan.

Tony Maginness is the key contact for the team. He has been involved in high profile finance company receiverships and moratoriums, and has extensive experience in finance and property lending and recoveries. Tony spent three years at Nationwide Finance Limited (now Allied Nationwide Finance), and four years as Lending Manager at North South Finance Limited where he successfully recovered a number of their problem loans before and during their moratorium. He also observed the first month of the Dominion Finance Limited (In receivership and liquidation) Receivership.

Other members of our team have:

• Worked as investigating accountants with the Insolvency and Trustee Service
• Worked for the National Enforcement Unit
• Worked with the Securities Commission
• Worked in London for the UK's Public Interest Unit
• Worked in Papua New Guinea, providing restructuring advice to the Reserve Bank of Papua New Guinea
• Led the Auckland Police Fraud Squad and have 27 years of police investigation experience.

We are members of the New Zealand Institute of Chartered Accountants ("NZICA"), INSOL (international body of Insolvency Specialists) and the Forensic Accountants Special Interest Group. We adhere to the guidelines, rules, regulations and ethics of these governing bodies and these associations provide a guarantee of independence, service and integrity.

Specialist Financial Skills and Experience

• Proven instincts, and the ability to rapidly assess a situation and arrive at a very practical solution
• Particular skills in implementing innovative realisation strategies designed to maximise recoveries
• Expertise in the intricacies of refinancing and restructuring lending
• Knowledge of the Securities Commission regulations
• An excellent success rate at recovering significant debt for creditors
• Superb negotiation skills, resolving shareholder disputes and managing legal disputes with borrowers and guarantors
• Successful reckless trading actions against directors

Formidable Forensic Investigative Skills

If we suspect decisions made by the company prior to our appointment were inappropriate, we will investigate possible action and who is best placed to bring these actions. Such action will only be perused once we have assessed the likely financial benefits for secured debenture investors. We will also investigate possible claims against directors, borrowers and other parties.

A member of our financial services team has led the Auckland Police Fraud Squad and has 27 years of police investigation experience. Two other team members have worked as investigating accountants with the Insolvency and Trustee Service. Members of our team have previously worked for National Enforcement Unit, and we have ongoing relationships with the Securities Commission and the Serious Fraud office.

Our team has dedicated professionals who are skilled at unravelling the financial position of a company, often tracking down funds that most other investigators would miss. We have investigated the serious mismanagement of fraud and criminal offending, and have also undertaken detailed and extensive investigations leading to legal proceedings.

Legal Proceedings

We have an in-depth understanding of the evidential requirements necessary to undertake prosecution and or litigation, which allows much of the work normally undertaken by lawyers to be gathered and prepared in house. We have also been involved in a number of long running legal proceedings to recover property and funds misappropriated through fraud related matters.

Full Range of Services

• Liquidations
• Receiverships
• Business recovery
• Turnaround management
• Business evaluations and appraisals
• Forensic investigations
• Fraud investigations
• Due diligence
• Trading on businesses
• Discovery and recovery of assets
• Reckless trading actions against directors
• Recovery of significant debt
• Preparation of affidavits and reports
• Management of legal action
• Advisory work
• Performance monitoring
• Strategies for workouts or asset realisation
• Investigative accounting
• Loan reviews
• Business restructuring
• The full range of insolvency appointments
• Informal appointments

Leading Insolvency Experience

• We have the ability to quickly take control of a situation and deploy resources as necessary
• Our team has the ability to manage both the operational and financial aspects of a development or completed building
• Identification of risks is carried out proactively and in a timely manner
• We have an innate understanding of the lender's needs
• We understand how to work with the media to protect reputation and brand value

Wide Network of Contacts Nationally

• Government Departments
• Solicitors and Barristers
• National Enforcement Unit
• Serious Fraud Office
• Securities Commission
• Police
• Banking
• Property & Construction
• Financial Services
• Agribusiness

Contact Us to Discuss Your Situation

Due to our in-depth experience of financial services, McDonald Vague can hit the ground running, swiftly assessing the situation with practised eyes, deploying resources without delay, taking control of management and finances and, most importantly, delivering fast, tailored results to the maximum benefit of all parties. We look forward to discussing how we can be of value to you.