28 Oct 2015
THE ROMAN CATHOLIC BISHOP OF THE DIOCESE OF CHRISTCHURCH v RFD INVESTMENTS LIMITED (IN RECEIVERSHIP) (IN LIQUIDATION) [2015] NZHC 2647
- Citation
- [2015] NZHC 2647
- Court
- High Court
The Court held that Clause 25(iii) only prescribes allocation of insurance proceeds and does not imply termination of the 999 year lease; designation, notice of intention to acquire and the indemnity insurance payment did not frustrate the lease, and therefore the Bishop's leasehold interest subsisted at the time of Crown acquisition and is compensatable.