11 Jul 2013
AVONSIDE HOLDINGS LTD v SOUTHERN RESPONSE EARTHQUAKE SERVICES LTD [2013] NZHC 1433
- Citation
- [2013] NZHC 1433
- Court
- High Court
For the purpose of assessing the notional cost of rebuilding under the policy the court adopts a 10% builder's margin applied to the assessed cost including preliminary and general items, disallows any contingency allowance, allows professional fees of $29,000 as the appropriate necessary-fees allowance, excludes demolition and debris removal from the notional rebuild cost (they are additional cover), and allows $79,421.50 for external works by applying repair-or-replace pragmatism rather than full replacement in all cases.