29 Mar 2017
LEXALL LIMITED v MARUONZ CONSTRUCTION LIMITED (IN LIQUIDATION) [2017] NZHC 599
- Citation
- [2017] NZHC 599
- Court
- High Court
The Court found MCL breached the Deed of Settlement by failing to complete by the contractual practical completion date and by failing to perform required obligations; under the Deed of Guarantee and Indemnity the director Mr Ho Jin Yi is personally liable for MCL's obligations and consequent losses. Damages for additional construction costs were accepted as quantified by the plaintiff's accountant; lost profits were awarded but only from the earliest date a CCC could have been issued (24 July 2013). Indemnity costs were awarded under the contractual indemnity but reduced as to quantum for re…