5 Aug 2008
TECHNOLOGY HOLDINGS LIMITED V IAG NEW ZEALAND LIMITED AND ANOR HC AK CIV 2005-404-3450
- Citation
- openlaw-6f904e26_6a07_4092_bdf3_7fda7042d118.pdf
- Court
- High Court
The court held that 'loss' means loss of the property (disappearance/no longer in possession) and therefore did not apply; 'damage' can be wider than 'physical damage' and covers situations where an event affecting the property (here the flooding) has impaired its value or usefulness or created a material risk of earlier malfunction; accordingly there was no 'loss' but there may have been 'damage' depending on factual proof that the flooding caused impairment or material risk as specified by the court.