Tompkins Wake assists in acquisition of NZ import business

Tompkins Wake assists in acquisition of NZ import business
Thursday 14 October, 2021
Tompkins Wake is pleased to have acted for IBC Japan and its subsidiary ATNZ 2000 Limited in the recent and successful acquisition of the business of Autoterminal NZ. IBC Japan is the world's leading exporter of used cars from Japan, Singapore, the UK, and Thailand and has been exporting used cars into New Zealand for over 30 years. It has been involved in a lengthy dispute with Autoterminal NZ, a distributor of used vehicles in New Zealand. The dispute arose out of IBC Japan and AutoTerminal NZ’s former partnership and recently resulted in a NZ$38 million judgment in favour of IBC Japan.
As a result of the judgment (read more here), Autoterminal NZ was put into liquidation and the liquidators sold the business, including inventory, intellectual property, and the trade accounts receivable to IBC Japan’s subsidiary, ATNZ 2000 Ltd. The sale allows the AutoTerminal business to continue and ensures that customers will receive continued service.
Tompkins Wake Partner James MacGillivray, assisted by Senior Associate Morgan Brady, successfully represented IBC Japan in the High Court and Tom Arieli acted for IBC Japan and ATNZ 2000 Ltd in their acquisition of Autoterminal NZ’s business. James said, “We are pleased to have achieved such a successful outcome for IBC Japan and brought an end to this long-running dispute".
Related Articles

Passion for law and lasting client connections fuels new Partnership
Thursday 25 May, 2023

Tompkins Wake announced an excellence awardee for the NZ Law Awards
Friday 19 August, 2022

Tompkins Wake advises property tech startup on acquisition by global player
Wednesday 20 July, 2022

New Property Partner and team support Tompkins Wake growth in Rotorua
Thursday 4 November, 2021

Tompkins Wake new naming rights sponsor for Rotorua Business Awards
Wednesday 10 March, 2021

Tompkins Wake advises on $854m strategic infrastructure sale
Wednesday 30 September, 2020

Rich, family-like culture the backbone of Tompkins Wake's COVID-19 response
Tuesday 19 May, 2020

Latest appointments mark 150% growth for Tompkins Wake's Auckland team
Tuesday 12 May, 2020

Tompkins Wake CE calls on others to commit to Gender Equality Charter
Friday 29 March, 2019
