27 Jul 2023
LEPIONKA & COMPANY INVESTMENTS LIMITED v GIBSON SHEAT [2023] NZHC 1981
- Citation
- [2023] NZHC 1981
- Court
- High Court
The Court found that the parties reached a binding oral settlement on 29 February 2016 which resolved LCIL's claims against Gibson Sheat; the agreement was not conditional upon execution of a formal written instrument, the requirement for independent advice under the Rules and fiduciary obligations was satisfied in the circumstances (including availability of and advice from independent advisers and the parties' informed commercial decision), and the agreement was performed; accordingly LCIL's claims were dismissed.