New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Long-term maintenance fund

Legal area

Court

7 Feb 2017

WHEELDON v BODY CORPORATE 342525 [2017] NZHC 87

Citation

[2017] NZHC 87
Court

High Court

The 2012 unanimous special resolution permitted the Body Corporate to treat the account as an optional contingency fund under s 118, so expenditure on unbudgeted professional and legal costs associated with remediation was lawful; the Committee had been validly delegated authority (s 108), properly notified (reg 22), and its contemporaneous email exchanges constituted valid decision-making or, at minimum, were capable of ratification by subsequent special resolution; therefore the special levy of 13 July 2014 was valid and the plaintiffs' declarations fail, and judgment on the counterclaim fo…
3 Jun 2016

NEWLAND v BODY CORPORATE NO 81340 [2016] NZHC 1190

Citation

[2016] NZHC 1190
Court

High Court

Operating levies in issue were validly struck and recoverable as a debt because the disputed items either fell squarely within s115 operating expenses or constituted a legitimate long-term maintenance plan contribution distinct from remediation levies; a single bank account is permitted if funds are identifiable and there was no arguable defence warranting refusal of summary judgment.