27 May 2021
WILLIAMS v TELLEN SYSTEMS NZ (2013) LTD [2021] NZHC 1199
- Citation
- [2021] NZHC 1199
- Court
- High Court
Tellen failed to prove material non-disclosures by Williams that would have entitled it to cancel the SPA; clause 5.3 did not preclude pre-existing dividend/bonus arrangements; SHA clause did not give rise to a fiduciary obligation of loyalty; statutory contracting-out provisions (s 5D FTA) and contractual terms supported exclusion of the FTA claim; accordingly Tellen's cancellation and recovery claims failed, Williams is entitled to the unpaid second $425,000 instalment plus contractual interest and to indemnities under the SHA (67% of specified guarantor payments), Tellen must pay Williams…