Leading national firm innovates new approach
Leading national firm innovates new approach for public sector ownership
Leading conflict management service provider, FairWay Resolution Limited has new ownership model - transitioning with advice and support from MinterEllisonRuddWatts from being a Crown entity to being owned by a trust established for the benefit of its employees.
FairWay Resolution has more than 200 staff and contractors across New Zealand, with offices in Auckland, Wellington, Christchurch and Dunedin. It handles more than 14,000 cases every year.
The firm’s Wellington Corporate team, led by Paul Foley advised FairWay Resolution's board and management on the transfer of ownership including negotiating with the Crown, devising the final ownership and governance models, financing, establishing the trust and preparing the relevant constitutions.
Corporate Partner Paul Foley is pleased with the result saying it creates opportunities for other non-core Crown entities.
"To our knowledge, the transaction is unique within New Zealand and could be adopted by other non-core Crown entities seeking to re-align their ownership with the appropriate delivery of their services, which for FairWay involves independence, customer service, quality and privacy," says Paul Foley.
"Our corporate practice worked very closely with a committed board and senior management team to develop an excellent solution for our client, and ensured that their business objectives were met."
FairWay Resolution is now an independent, employee-owned company providing specialist conflict management and dispute resolution services.