8 May 2015
DOMENICO TRUSTEE LIMITED v TOWER INSURANCE LIMITED [2015] NZHC 981
- Citation
- [2015] NZHC 981
- Court
- High Court
Tower had the contractual right to reinstate; Tower did not make an unequivocal election to pay replacement-value cash by words or conduct, but by a narrow margin the court found that after prolonged delay the law effectively treated Tower as having elected to settle by cash at indemnity/present day value; quantum of indemnity value was not proven and must be agreed or determined.