28 Nov 2016
BRIAN GREEN PROPERTIES (1971) LIMITED v BINDON HOLDINGS LIMITED [2016] NZHC 2847 [28 November 2016]
- Citation
- [2016] NZHC 2847
- Court
- High Court
The Court found BGPL to be the predominantly successful party because although there was a technical breach of the repair covenant, the breach presented no immediate or material financial risk to Bindon given the Glasgow lease rent structure and the tenant's solvency; accordingly costs were awarded to BGPL on a 2B scale but discounted by 25% resulting in a total award of $18,680.93; costs of the aborted arbitrator appointment were to lie where they fell; the Court declined to vary the previously fixed security amount of $1,549,000.