11 Dec 2012
DOMINION FINANCE GROUP LTD & Ors V BODY CORPORATE 382902 & Ors HC CHCH CIV 2012-409-2133
- Citation
- openlaw-cd6a2756_c76b_4fc5_bce6_d375c0da6dd7.pdf
- Court
- High Court
The Court concluded it was just and equitable to overturn the Body Corporate's special resolution to apply for cancellation with the s177(7) reassessment and instead exercise the High Court's power to cancel the unit plan while preserving the 2007 ownership interests because the reassessment was not justified by reliable market valuation evidence or an appropriate effective date in the post-earthquake context and would cause significant unconscionable detriment to applicants.