26 May 2015
COOPER-DAVIES TRUSTEES NUMBER 6 LTD v COOPER TRUSTEES NUMBER 11 LTD (CA22/2014) [2015] NZCA 197
- Citation
- [2015] NZCA 197
- Court
- Court of Appeal
Only a limited set of contingencies (uncertain sale value of bare land and red-zone related risks) were materially relevant at the operative date; a 15% discount, not 50%, was appropriate; valuation should reflect insurance payout and subsequent land sale less expenses and then apply the shareholding proportion, producing a substituted judgment of $574,625 plus interest; fiduciary relief was not granted because it was not properly pleaded or supported by evidence; cross-appeal dismissed.