29 Aug 2022
SMITH v BEAVEN [2022] NZHC 2162
- Citation
- [2022] NZHC 2162
- Court
- High Court
Clause 11's dispute resolution process produced a binding determination as to the purchaser's right (or lack of it) to claim compensation and therefore, once the Determiner directed payment, the stakeholder must release the interim amount to the vendor; equitable set-off, alleged misconduct, or subsequent litigation under cl 11.11 do not permit indefinite retention of those funds by the purchaser or stakeholder.