New Zealand Case Law: Decisions & Judgments

Topic

Process contracts

Legal area

Court

18 Apr 2016

GIDDEN v IAG NEW ZEALAND LTD [2016] NZHC 948

Citation

[2016] NZHC 948
Court

High Court

The typed multi‑party outcome agreement was a binding contract because it established an objective, ascertainable process (PQS report, insurer review and negotiation within fixed timeframes) to determine rebuild costs; it was not an unenforceable agreement to agree and no plausible implied term preserved a right for insurer to revert to repair or to defer performance pending internal panel approval; insurer breached the agreement by refusing to present the final cash settlement and summary judgment entered for plaintiffs for $707,610.94 plus interest and declarations.
10 Jul 2015

SCHULZ v MCARTHUR RIDGE INVESTMENTS LTD [2015] NZCA 298

Citation

[2015] NZCA 298
Court

Court of Appeal

The emails did not themselves conclude a binding settlement of the winery litigation; however, objectively the parties intended to be legally bound to follow the multi‑step process set out in the signed emails. That process contract is enforceable and sufficiently certain in its material terms (notably the $30,000 payment and the objectively ascertainable range for legal costs) but any settlement of the winery litigation was conditional on completion of the steps under the first and second headings; therefore no concluded settlement had been achieved and the appeal was dismissed.
8 Nov 2007

NRT MANAGEMENT LTD V ALTITUDE SCIENCE LTD HC AK CIV 2006-404-007899

Citation

openlaw-444ed75d_73d0_4dd0_884e_016be102ce5b.pdf
Court

High Court

ASL failed to prove solvency because it did not produce its 2007 accounts and relied on a valuation contingent on forecast profits; the terms sheet clause to review/renegotiate the NRT debt was too uncertain to discharge the statutory demand, therefore the debt was due and payable, NRT was a creditor, no set‑off or counterclaim defeated the demand, and a winding up order with appointment of liquidators was warranted.

New Zealand Case Law

GIDDEN v IAG NEW ZEALAND LTD [2016] NZHC 948

SCHULZ v MCARTHUR RIDGE INVESTMENTS LTD [2015] NZCA 298

NRT MANAGEMENT LTD V ALTITUDE SCIENCE LTD HC AK CIV 2006-404-007899