11 Aug 2014
WORLDWIDE NZ LLC v NZ VENUE AND EVENT MANAGEMENT LIMITED [2014] NZSC 108
- Citation
- [2014] NZSC 108
- Court
- Supreme Court
Section 87(1) must be read broadly: a sum need not be ascertained or readily ascertainable to constitute a "debt or damages" under the provision; exercise of the pre‑emptive right on 26 April 2006 gave rise to a cause of action to recover the market value of the B units and shares, so Potter J properly had jurisdiction and discretion under s 87(1) to award interest from that date; the High Court interest order was reinstated and the Court of Appeal costs order set aside.