20 Dec 2013
SYDENHAM RECYCLING LIMITED v IAG NEW ZEALAND LIMITED [2013] NZHC 3518
- Citation
- [2013] NZHC 3518
- Court
- High Court
On the facts SRL failed to prove that full relocation and the claimed building costs were necessary and reasonable as at December 2011 and that the operational benefits would accrue within the indemnity period; the proposal was late and the claimed expenditures amounted to long‑term capital benefit outside the policy's indemnity limits and reinstatement exclusion, therefore insurer's refusal was objectively justified and no liability arose under clause L.