21 Nov 2013
LILY O NEW ZEALAND LTD v NANTONG MAYMARK INT'L TRADING CO. LTD [2013] NZHC 3081
- Citation
- [2013] NZHC 3081
- Court
- High Court
No concluded binding settlement was reached because essential terms remained unresolved and negotiations were contingent on third party payments; there is a genuine dispute limited to testing costs of US$9,156.65 which reduces the demand, but the misstatement (8.6% overstatement) was not sufficient to cause substantial injustice so the demand stands in reduced form; applicant ordered to pay US$78,259.32 within 15 working days or respondent may apply for liquidation.