17 Feb 2023
TARGA CAPITAL LIMITED v WESTPAC NEW ZEALAND LIMITED [2023] NZHC 230
- Citation
- [2023] NZHC 230
- Court
- High Court
There is no serious issue to be tried on Targa's breach of contract claim or its unconscionable conduct claim under s 7 FTA: the termination clause imports a subjective belief standard and Westpac's exercise of its discretion was not shown to be unreasonable given legitimate commercial considerations and identifiable sanctions, contractual and capital markets risks; accordingly interim relief was refused and costs awarded to Westpac.