15 Mar 2017
FOREST HOLDINGS LTD v MANGATU BLOCKS INCORPORATION [2017] NZHC 448
- Citation
- [2017] NZAR 671
- Court
- High Court
The High Court allowed the appeal, set aside the arbitrator's Damages Award and remitted the question of damages to the arbitrator for reassessment; the Court held that the arbitrator erred in concluding Forest Holdings was likely limited to nominal damages without permitting factual inquiry into the commercial dynamics during any 120-day notice period and valuation of the asset at repudiation, applying the compensatory principle and established authorities that subsequent events may be considered only if they were a real possibility at the relevant date.