25 Oct 2018
SETTLERS CRESCENT PARTNERSHIP v IAG NEW ZEALAND LIMITED [2018] NZHC 2775
- Citation
- [2018] NZHC 2775
- Court
- High Court
The Release Agreement, objectively construed in light of expert reports and negotiations, was calculated on the basis that the Gym and Large Warehouse were a total loss from the February 2011 earthquake and paid on a full replacement basis; that Settlement therefore precluded a later claim for the June 2011 earthquake as it would constitute double recovery, and the broker had authority to conclude the settlement, so the plaintiff's claim is dismissed.