28 Apr 2011
STOCKCO LIMITED V TAWHITI-ARIKI LIMITED HC AK CIV-2010-404-003413
- Citation
- openlaw-0ce5b2b0_a073_459b_88f2_2fdba944a030.pdf
- Court
- High Court
Court held plaintiff was owner but lacked an immediate possessory right to sue in conversion because the livestock agreements created fixed-term bailments giving possession to the bailee and the bailee's conduct did not repudiate the bailment; plaintiff could, however, sue for permanent injury to its reversionary interest. Damages equated to sale proceeds less an equitable set-off for grazing/management costs and adjustments for unsold stock, resulting in judgment for plaintiff against first defendant for $305,887.17 plus 5% interest from 17 May 2010; costs to lie where they fall.