22 Sept 2010
GREYMOUTH GAS KAIMIRO LIMITED, GREYMOUTH GAS PARAHAKI LIMITED, GREYMOUTH GAS TURANGI LIMITED AND GREYMOUTH PETROLEUM TURANGI LIMITED V GXL ROYALTIES LIMITED SC 98/2009
- Citation
- SC 98/2009
- Court
- Supreme Court
Clause 7.2 requires that the assignee's sufficient financial capability be established objectively; once that objective criterion governs, the grantee's collateral motives for withholding consent are irrelevant to the court's determination, and thus the Court of Appeal was correct to hold GXL need not plead collateral purposes; appeal dismissed.