5 Mar 2019
HORTON v TE PURU MANAGEMENT COMPANY LIMITED [2019] NZHC 339
- Citation
- [2019] NZHC 339
- Court
- High Court
The Deed of Covenant, read as a whole and in light of its commercial purpose and the incorporated management plan and consents, does not treat Schedule C as an exhaustive list; manager and building levies may include costs not specifically listed in Schedule C; the manager must provide unredacted yearly accounts, an annual report and reconciliations; levies may carry forward losses or surpluses but the covenant does not permit the manager to retain an additional margin/profit on expenses; offering rebates to some lot owners to reflect prior payments is permissible; 'permanent' residence is as…