16 Mar 2021
FORESHORE EQUITIES LIMITED v BODY CORPORATE 396688 [2021] NZHC 537
- Citation
- (2021) 22 NZCPR 123
- Court
- High Court
The resolution was overturned because the proponents failed to identify the lessee with sufficient particularity and failed to attach or commit to essential lease terms, creating an unfair situation where minority owners would be bound while the majority owner could finalise terms to its advantage; under s 215(2) this procedural and substantive inadequacy made it just and equitable to set the resolution aside, whereas absence of valuation or planning advice alone was insufficient on the evidence to justify overturning.