30 Apr 2019
TRENDS PUBLISHING INTERNATIONAL LIMITED v CALLAGHAN INNOVATION [2019] NZHC 907
- Citation
- [2019] NZHC 907
- Court
- High Court
Callaghan was entitled to suspend and ultimately to terminate the Funding Agreement. Callaghan properly initiated an audit under clause 5, complied with procedural requirements, and reasonably relied on Deloitte's investigation. The evidence established Trends failed to keep adequate records, provided inaccurate or misleading information and claimed expenditure that was not proven to be Eligible R&D Expenditure. Those failures breached clauses 5.1, 10.4(b) and 10.4(c) giving Callaghan lawful grounds to terminate; Callaghan's public statements were within its contractual and statutory context.…