About

‘Fishing is a relatively volatile industry which creates business challenges’, says Tim Silverstone. ‘Especially in an environment where the economies in some of our traditional export markets have been struggling. As an exporter we have also been significantly impacted by the high value of the New Zealand dollar. These factors obviously give rise to a range of non-legal challenges’. Sealord GC Silverstone is not only part of the senior executive team, but also manages a number of core non-legal areas, including human resources and corporate affairs. Half-owned by the Maori people, New Zealand’s largest fishing business’ global reach spans five continents. Silverstone has supported it through significant changes over recent times. ‘The past couple of years have seen the company positioning itself for the future by implementing a new strategy’, he explains. These measures have included establishing a key strategic centre in Sydney, divesting businesses and assets, investing in new ones, entering into new ones. Sources also praise Silverstone’s leadership of a series of innovative refinancing arrangements. Supporting such an expansive business is not always easy, he concedes, particularly given its global footprint, and the industry’s significant regulation. ‘We have a relatively small legal department and face a wide range of legal issues, given the sheer diversity of the business’. Silverstone is very selective about the outside counsel he uses. ‘I think it should be taken as a given that firms provide quality legal advice’, he says, adding: ‘The key for me is to ensure that expectations are managed so that there are no surprises, whether that be in relation to the outcome of matters or, for example, the level of fees charged. Lawyers also need to always keep in mind the value – and cost – of the services they are providing, relative to the overall size and value of the transaction or matter they are working on’.