14 Oct 2013
YANDINA INVESTMENTS LIMITED V ANZ NATIONAL BANK LIMITED & ORS CA529/2012 [2013] NZCA 469
- Citation
- [2013] NZCA 469
- Court
- Court of Appeal
The Deeds equitably assigned only the assignors' 'net profits' as that term is to be understood by reference to the Equity Participants' Agreement — i.e. net after payment of partnership expenses including the Air New Zealand loan and foreign exchange liabilities — and did not transfer the Partnership's gross rental receipts or tax‑accounting profits to Yandina; accordingly the strike‑out of Yandina's claim was correct and the appeal is dismissed.