10 Feb 2015
SUN & ORS v PENINSULA ROAD LTD (In R’ship and in Liq) [2015] NZHC 126
- Citation
- [2015] NZHC 126
- Court
- High Court
The sale agreements obligated the vendor to complete the specific Building and obtain unit titles but did not impose a covenant to complete Stages 2 and 3; the creation of principal units, the common property lease, QLDC encumbrance and Body Corporate rule changes were authorised by the contract terms; membership of the Precinct Society did not constitute a participatory security under the Securities Act and offers were not made to the New Zealand public; Kawarau Village was ready, willing and able to settle and validly cancelled the agreements after purchasers failed to comply with settlemen…