21 Aug 2020
CAIN v METTRICK [2020] NZHC 2125
- Citation
- [2020] NZHC 2125
- Court
- High Court
The court found the funder's (Winton/PLF) commercial motive was not proven to be an improper vendetta and that perception/effect concerns did not justify a stay; however clause 12.4 (and related provisions) of the funding agreement permits the funder to compel continuation of litigation for its financial benefit such that the agreement, as drafted, effects an assignment of the Companies' bare causes of action for profit. That assignment is impermissible absent statutory approval; accordingly the proceeding is stayed until the impugned aspects of the funding arrangement are removed, modified o…