9 Mar 2017
STEEL v SPENCE CONSULTANTS LIMITED [2017] NZHC 398
- Citation
- (2017) 14 TCLR 624
- Court
- High Court
The report was objectively misleading under s9 FTA by positive misstatements and omissions of visible moisture problems; the disclaimer did not absolve defendants of FTA liability; Mr Spence was personally liable as the alter ego who prepared and signed the report; damages were awarded on a diminution basis with defendants bearing 50% of the plaintiffs' net loss, yielding an award of NZD 85,000 plus interest from 5 May 2015 at 5% per annum.