20 Dec 2018
STONEHILL TRUSTEE LIMITED v NEW ZEALAND INDUSTRIAL PARK LIMITED [2018] NZHC 3436
- Citation
- [2018] NZHC 3436
- Court
- High Court
The covenants were of little practical value and their extinguishment/modification causes no compensable loss to NZIPL, so no compensation is awarded; clause 7 of schedule 3, construed to cover costs of enforcement and opposition, entitles NZIPL to indemnity costs, and Stonehill must pay NZIPL's reasonably incurred and reasonable indemnity costs.