31 Aug 2011
SIMPSON & ORS V HUBBARD HC TIM CIV-2010-476-000581
- Citation
- openlaw-ce4958ce_4625_4e6b_bca2_ebda6300c303.pdf
- Court
- High Court
Application dismissed because ss63,65 and 66 of the CIM Act constitute a comprehensive statutory costs regime; s58 is confined to powers under Part III and cannot be used to rewrite the Part IV costs regime; s59 cannot be used to modify the specific allocation of costs in s65 or to circumvent statutory protection of property rights; legislative history and contrast with RBNZ Act confirm Parliament deliberately limited recovery from associated persons and did not intend the broad construction urged by statutory managers.