New Zealand Case Law: Decisions & Judgments | LexChat

New Zealand Case Law

Valuation and payment timing
  • 14 Feb 2007

    DUNNING V CHABRO HC AK CIV 2005-404-4903

    Citation
    openlaw-c87d6266_5452_4142_9d14_1079fca9d9ec.pdf
    Court
    High Court

    Court ordered that Chabro must purchase Mr Dunning's shares for the fair value fixed previously ($880,000) with staged payments to provide Chabro reasonable time to arrange funding: $440,000 by 15 May 2007, $220,000 plus accumulated interest by 31 October 2007, and the balance including all outstanding interest by 30 April 2008; interest at 7.5% per annum to run from 1 January 2006; costs awarded to plaintiff against Chabro only in specified sums and plaintiff entitled to full reasonable disbursements including expert fees (less Moorest filing fee); Moorest proceeding costs disallowed.