New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Costs (indemnity and 2b)

Legal area

Court

20 Aug 2014

MARAC FINANCE LTD v VERO LIABILITY INSURANCE LTD [2014] NZHC 1974

Citation

[2014] NZHC 1974
Court

High Court

Endorsement 4 operates as an exclusion and does not alter the operative promise; the 464768 account was a revolving/current facility so repayments after 8 February 2006 must be applied against the earliest outstanding balance (rule in Clayton's case); applying that rule produced an indemnifiable loss in excess of the $1,000,000 policy limit, entitling Marac to judgment for the policy limit; Marac is entitled to be indemnified for the cost of the investigative specialist but not to general indemnity costs for Vero's refusal to arbitrate; costs awarded on a 2B basis with specified exceptions.
14 Aug 2008

BARRY WALTERS AND ANOR V TAYLOR MARINE LIMITED AND ORS HC AK CIV 2006-404-2772

Citation

openlaw-47c74115_36a1_44ca_9993_70bd7c01e798.pdf
Court

High Court

Where plaintiffs promptly discontinued proceedings against the fourth defendant upon receipt of affidavit evidence undermining their earlier brief, they did not persist with a hopeless case; indemnity costs were refused and the fourth defendant was awarded costs on a 2B basis with adjusted time allowances (1.5 days for commencement of defence, 0.5 day for hearing) and specified itemised amounts; disbursements fixed by the registrar were also allowed.