29 Jun 2015
EX UCL LIMITED v SOLARIX NETWORKS LIMITED [2015] NZHC 1474
- Citation
- [2015] NZHC 1474
- Court
- High Court
The Court held clause 3.2(d) was triggered by the 1 April TDPS communication and required timeous expert/accounting resolution of calculation disputes, but clause 3.2(e) permitted disputes as to liability for the 100% TDPS portion; Unleash's direction to arbitration meant it could not now complain that the arbitrator decided liability. However the arbitrator's construction of 'Trade Debts' was inconsistent with the plain effect of clause 13 (which transfers active accounts receivable at Completion) and the matter is remitted to the arbitrator to reconsider the definition of 'Trade Debts' in l…