The settlement is in response to the Transmission Gully Motorway Project's restructure
MinterEllisonRuddWatts has helped Wellington Gateway Partnership (WGP) to obtain a watershed settlement in the wake of the Transmission Gully (Te Aranui o Te Rangihaeata) Motorway Project’s major restructuring.
The restructure followed an agreement between WGP, its subcontractors, and Waka Kotahi NZ Transport Agency (NZTA), the firm said. The commercial settlement “resolves all disputes and differences”.
The key elements of the settlement are as follows:
In addition, WGP will still receive quarterly unitary payments to facilitate its repayment of the capital raised.
“This settlement represents a significant milestone for WGP and underscores the importance of collaboration and skilled negotiation in complex public-private partnership projects”, MinterEllisonRuddWatts co-lead partner Sarah Sinclair said. "Our team worked tirelessly alongside WGP to ensure its interests were protected while facilitating an outcome that allows all parties to move forward. It is a privilege to support WGP in delivering one of New Zealand’s most critical infrastructure projects."
Sinclair headed up the firm’s team alongside Natasha Hood (construction and infrastructure), Simon Gray (project finance), and Simon Akozu (tax). They were supported by specialists Stephen Price, Charlene Fairnie, Shukti Sharma, Lydia Sharpe, Steve Gallaugher, Tamara Payne, Steven Liu, David Gilbert, Bianca Tree and Kate Storer.
