New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Security for undertaking as to damages

Legal area

Court

22 Sept 2020

Hebei Huaneng Industrial Development Co Ltd v Shi [2020] NZHC 2470

Citation

[2020] NZHC 2470
Court

High Court

The plaintiff demonstrated a sufficient real risk of dissipation to justify continuation of freezing orders because significant parts of the plaintiff's evidence about the defendant's conduct in China were unchallenged, the defendant failed to disclose NZ assets in PRC enforcement proceedings, the Auckland apartment (the defendant's principal quantifiable NZ asset) had been sold and would be converted to liquid funds, and there remained opacity and uncertainty around Boen NZ's finances and the defendant's relationship with related NZ entities; accordingly interim freezing and ancillary disclo…
19 Aug 2016

SIEMENS (NZ) LIMITED v STONEHILL TRUSTEE LIMITED [2016] NZHC 1927

Citation

[2016] NZHC 1927
Court

High Court

The Court continued the interim injunction preventing transfer of the SGT5-400F turbine to GE and ordered a detailed regime permitting GE to uplift, transport and store the turbine within New Zealand under supervised conditions (no internal access by GE except a pre-uplift borescope inspection by an independent contractor and supervised visits), required Siemens to post a NZ$5,000,000 guarantee/bond as security for its undertaking as to damages (with a 36-month expiry subject to renewal), allocated costs between parties (GE and Siemens settled costs; Contact entitled to costs against Siemens…