3 Jul 2008
NALAC INVESTMENT MANAGEMENT LIMITED V ORD AND ANOR HC AK CIV 2008-404-1510
- Citation
- openlaw-5393a2f3_11e7_47ba_867f_d7cb0caa8a9a.pdf
- Court
- High Court
The Court confirmed the arbitrator's ruling: clause 4(a) encompasses the defendants' pleaded claims to the Australian fund, including claims alleging breach of fiduciary duty leading to a constructive trust over sale proceeds; clause 4(b) is sufficiently broad, when read against the commercial background, to permit arbitration of claims challenging the net tangible asset (NTA) position affecting allocation of the New Zealand fund and is not confined strictly to mechanical Completion Balance Sheet disputes, subject to the arbitrator limiting opportunistic 'trawling' of transactions.