27 Oct 2017
LMLW LIMITED v ARMSTRONG MURRAY [2017] NZHC 2635
- Citation
- [2017] NZHC 2635
- Court
- High Court
Given reliable independent PwC tax advice that, on the applicant's and group's current structure and foreseeable circumstances, the Impact Fitness tax losses could not be used, LMLW was acting reasonably in instructing payment under the plain terms of the undertaking; Armstrong Murray's reliance on its client's contrary instructions does not excuse non‑compliance with the undertaking; therefore there is no real defence and summary judgment is appropriate.