3 Feb 2023
TOBEM HOLDINGS LIMITED v KID COUNTRY HOLDINGS LIMITED (in liquidation) [2023] NZHC 98
- Citation
- [2023] NZHC 98
- Court
- High Court
The Lease was interpreted according to its express terms: rent was to be calculated under clause 4.10 on the basis of the resource consent for 150 children and Kid Country was liable for 50% of outgoings for the whole Development. Kid Country breached by failing to pay rent and outgoings; Tobem validly mitigated (refit and reletting) and proved reasonable mitigation costs (with duplicated invoices excluded) and loss of bargain measured by the shortfall between contractual rent and market rent actually obtained. Counterclaims failed because alleged misrepresentations did not establish induceme…