17 Mar 2021
GRP HOLDINGS LIMITED v VP NOMINEES LIMITED [2021] NZHC 545
- Citation
- (2021) 21 NZCPR 915
- Court
- High Court
The Court held GRP had a reasonably arguable case on multiple grounds such that the caveat should be sustained: there is at least an arguable basis that an agreed pre-settlement inspection existed (rectification/agency/mistake/estoppel issues), that methamphetamine contamination engaged cl 5.2(2) and that the cl 8.4 procedure for interim deduction was triggered and not followed by the vendor, and that misrepresentation claims under the CCLA/FTA were reasonably arguable; accordingly VP Nominees could not be regarded as in all material respects ready, willing and able to settle when it purporte…