28 May 2020
NORTHWEST DEVELOPMENTS LTD v ZHANG, JUNG and SO [2020] NZHC 1151
- Citation
- [2020] NZHC 1151
- Court
- High Court
Court held Northwest entitled to enforce the Five Owners' Agreement; the20% contractual default interest in clause 42 is not an unenforceable penalty andis recoverable on a daily basis from due dates; the defendants' failure to consentto deposit of the survey plan was an effective cause of Northwest's consequentialborrowing losses and Northwest is entitled to damages of $1,347,244.81 pluscontractual and statutory interest; solicitor and client costs claim subject toseparate affidavited submissions.