27 Aug 2021
TURNOVER LIMITED v BUY RIGHT CARS (2016) LIMITED [2021] NZHC 2217
- Citation
- [2021] NZHC 2217
- Court
- High Court
The alleged acts by the purchaser (personnel decisions, changes in stock composition, and aged stock disposal policies) were operational, business‑as‑usual decisions of degree rather than changes to the scope, nature or manner of the business as contemplated by the fundamental covenants; therefore no fundamental covenant was breached and the earn‑out acceleration clause was not triggered. The May Variation ceded formal operational control to purchaser upon payment on 31 August 2017. Late expert material was admitted on an issue‑by‑issue basis where relevant but some opinions were excluded or…