19 Apr 2010
Wadham v Accident Compensation Corporation
- Citation
- [2010] NZACC 58
- Court
- District Court
The correct interpretation of 'value' in Clause 22(3) is the net amount the claimant would obtain on sale (i.e. accounting for any secured loan/negative equity); the Corporation erred by treating market value without deducting the loan, accordingly the review decision was quashed and remitted for reconsideration taking the loan into account.