16 Jul 2015
NELSON CITY COUNCIL v THE YACHT POUNAMU [2015] NZHC 1664
- Citation
- [2015] NZHC 1664
- Court
- High Court
Because the tender fee ($3,000) would materially reduce the net return on a vessel valued at $12,000–$15,000 and a private purchaser was available, the Court exercised its discretion to amend the prior order to permit sale either by private treaty or public tender to achieve a proportionate and efficient sale.