14 Jun 2016
HULBERT DEVELOPMENTS LIMITED v TAIRUA MARINE LIMITED [2016] NZHC 1270
- Citation
- [2016] NZHC 1270
- Court
- High Court
The court held that the phrase "the marina facility pursuant to the New Marina JVA" in clause 2 of the Exit Agreement referred to the marina contemplated in the pre-contractual background and the New Marina JVA (a circa 200+ berth facility). Because the constructed marina was materially smaller (95 berths) and not the marina so contemplated, TML was not liable to pay $250,000 under clause 2. The court also implied a best endeavours obligation on TML to pursue the New Marina JVA but found TML had not breached that implied term given the extensive consenting and development steps it undertook.…