1 May 2013
ONE THREE FOUR LIMITED V J R F HOLDINGS LIMITED HC CHCH CIV 2012-409-504
- Citation
- openlaw-fb4ffbbe_b168_4751_97f2_71a364f07c7c.pdf
- Court
- High Court
Clause 14(c) transfers ownership of tenant-funded improvements to the landlord on termination, but clause 26.1 preserves rights between the parties enabling the tenant to claim against insurance proceeds for its distinct loss (the value of the remaining beneficial lease term); the policy endorsement created an insurable interest for the tenant and, applying Beacon Carpets, the tenant was entitled to NZD 225,000 of the insurance proceeds representing the market value of its leasehold interest.