18 Sept 2019
WETA ESTATE v SAVVY VINEYARDS [2019] NZCA 437
- Citation
- [2019] NZCA 437
- Court
- Court of Appeal
Clause 2.2 must be construed so that the right of first refusal is effective on the Commencement Date and again on the third anniversary and must be exercised prospectively before each relevant three-year period begins; failure to give notice prior to the Commencement Date and prior to the third anniversary meant the option had not been exercised for two consecutive three-year periods and therefore lapsed on 1 May 2013. The interlocutory judgment did not give rise to issue estoppel or equitable estoppel preventing Weta from asserting its interpretation; the December 2010 notices did not preve…