2 Dec 2020
BURRI v SCHULER BROTHERS LIMITED [2020] NZHC 3177
- Citation
- [2020] NZHC 3177
- Court
- High Court
Clauses 4 and 5 of the ASP unambiguously fix 'Settlement' as 31 August 2017 so contractual interest at 4.69% runs only from 1 June 2017 until 31 August 2017; no contractual obligation to pay that rate beyond that date. Specific performance ordered with conditions enabling transfer of 216 shares upon plaintiffs' payment of $306,832 (plus agreed pre-31 Aug 2017 interest) triggered by distribution/repayment by Swiss Belle; statutory interest from arbitral award payable until payment but capped to 1 March 2021; defendant's summary judgment dismissed.