12 Apr 2019
Judgment is entered for the plaintiffs for the sums sought in the plaintiffs' memorandum (with a correction to the AUD figure as calculated by the Court); costs are awarded to the plaintiffs on a category 2B basis, no uplift for failure to accept settlement offers, allowance made for second counsel and for expert fees proving Vanuatu law, and GST is not deductible where plaintiffs are not GST-registered.
5 Mar 2019
The Court held the VBSA was admissible in New Zealand, the parties had agreed all essential terms (land by value with Herd to nominate), s40 writing requirement satisfied, Herd was in default and Haines properly issued notice and repossessed the vessel, Clause 9 provided primary remedy sequence but was not exclusive of common law damages, Haines was not required to sell mortgage land before claiming shortfall, plaintiffs acted reasonably to mitigate, and both Herd and guarantor Rhumba are liable for the shortfall, contractual interest and certain specified costs.