5 Oct 2020
The Court granted leave to appeal because the proposed appeal raises serious questions of law regarding the required content and particularity of contractual notices under cl 10.4 and has a reasonable prospect of success; the specific questions set out at [5] are appropriate for determination on appeal.
12 Dec 2013
Capitalised interest under the Senior Facility Agreement was contractually converted into principal (both pre- and post-default where BOS exercised its contractual option to capitalise); accordingly such capitalised amounts were not 'interest' for the purposes of the Intercreditor Deed's priority provisions, the non-waiver clauses did not permit BOS to retrospectively recharacterise or reverse its prior election to capitalise, and therefore BOS's priority was limited to its Nominated Amount of NZD 27,549,000 with the excess payable to Strategic.
31 Jan 2011
The court declined to strike out the entire statement of claim for abuse of process because the pleading defects were not of sufficient severity to meet the high strike‑out threshold; the second and third causes (ss16(a) and 16(b) Sale of Goods Act) and the seventh cause (as amended under the Fair Trading Act) were reasonably arguable and raised factual issues for trial and thus could not be struck out; the fourth cause (s17 Sale of Goods Act) was struck out because photographs did not amount to a physical sample required by s17; security for costs beyond the $20,000 already paid was declined…
1 Aug 2005
On objective construction of the licence agreement and the documentary evidence the signatures of Trotter and Webb were in their capacities as directors of ACP only; initials do not convert a director's signature into a personal shareholder guarantee; subjective intent not communicated to the licensor is inadmissible to vary the clear documentary allocation of capacity, therefore neither Trotter nor Webb are personally liable under clause 38.