20 Jul 2017
RICHINA PACIFIC LTD v AAI LTD (FORMERLY VERO INSURANCE LTD) & ANOR [2017] NZHC 1686 [20 July 2017]
- Citation
- [2017] NZHC 1686
- Court
- High Court
The court held the bond was conditional; the Engineer's 25 September 2012 certificate operated as a valid partial certificate as treated and ratified by the contracting parties, carving the car stacker out of practical completion rather than discharging the bond; there was no prejudicial conduct by Samson or the Engineer discharging AAI; Samson proved reasonable costs arising from Mainzeal's default up to the $2,000,000 bond cap; AAI (formerly Vero) breached the bond and is liable to pay $2,000,000; Richina has standing under s 3 of the Declaratory Judgments Act to seek relief in these circum…