5 Dec 2013
ISAC NEW ZEALAND LIMITED v MANAGH [2013] NZHC 3242
- Citation
- [2013] NZHC 3242
- Court
- High Court
Court held ISAC had given adequate written notice under clause 10.3 and validly terminated so clause 11.2 could apply; CEO (Dr Bellringer) had actual authority to enter the 2011 contract and GHL was bound; liquidator's categorical rejection on grounds of lack of authority and data-loss was incorrect; however on the available evidence the Court could not determine whether clause 11.2 was an unenforceable penalty or a genuine pre-estimate of loss and could not quantify damages, so it directed the liquidator under s 284 to reconsider the proof of debt with specified information and not to reject…