10 Sept 2014
ISLINGTON PARK LTD v ACE INSURANCE LTD & ORS CA828/2013 [2014] NZCA 446
- Citation
- [2014] NZCA 446
- Court
- Court of Appeal
For the purposes of the schedule's deemed total loss test 'cost of repair' is the cost of repair measured under clause 1.2.1 (the policy's 'old for old' indemnity), excluding additional costs required to meet current building regulations; the alternative deemed total loss limb triggered by prevention of reinstatement by law contemplates compliance with current regulations.