15 May 2020
MCVEIGH v CHIEF EXECUTIVE OF THE DEPARTMENT OF CORRECTIONS [2020] NZHC 1018 [15 May 2020]
- Citation
- [2020] NZHC 1018
- Court
- High Court
The interlocutory injunction was refused because the applicants failed to show the high threshold required to restrain a call on performance/retention bonds: there was no allegation or evidence of fraud, no strong prima facie case that the bond did not respond to the demand, no demonstrated unconscionability, and the bond and contract terms unambiguously permitted a demand on the occurrence of an Insolvency Event irrespective of termination disputes; moreover contractual remedies and the commercial purpose of bonds weighed against injunction.