28 Mar 2011
HUDSON BAY HOLDINGS LIMITED V WAITAKERE PROPERTIES LIMITED HC AK CIV-2009-404-1134
- Citation
- openlaw-123fcc9e_971c_4085_a8c6_d26e948f7db6.pdf
- Court
- High Court
The Court held Hudson Bay was entitled to exercise the clause 20.1 put option because settlement of the purchase of the defined 'property' (lot 2) had not occurred by 22 December 2008; there was no binding variation, waiver or estoppel preventing Hudson Bay from exercising that right, and it was not appropriate to imply the additional terms sought by the defendants to alter the settlement sequence; consequently the defendants' counterclaims failed.