4 Dec 2019
NEW ZEALAND ASSOCIATION OF CREDIT UNIONS v FINZSOFT SOLUTIONS (NEW ZEALAND) LTD [2019] NZHC 3198
- Citation
- [2019] NZHC 3198
- Court
- High Court
The Court exercised its jurisdiction under the master services agreement and the Arbitration Act to grant an interim restraint preventing Finzsoft implementing its termination notice because Co-op Money showed a reasonable possibility of success (notably under clause 14.6), the harm to Co-op Money, its member credit unions and thousands of retail customers if services were withdrawn was not adequately reparable by damages and the balance of convenience favoured maintaining the status quo pending resolution of the dispute.