In a recent case, the New Zealand Court of Appeal in Francis v Gross made an important decision about what happens when buyers of unfinished homes – called “pods” or “tiny homes” – are left out of pocket after the company building them goes bankrupt. The case involved a company called Podular Housing Systems Limited,…
Insights on reckless trading and director liability: a recent High Court case A recent High Court judgment has shone the light on the ability of creditors to claim against company directors accused of “reckless trading”. This ruling has considerable implications for directors, showing that creditors can make successful applications to the courts independently and directly,…
New Infrastructure Projects to Transform Tauranga: What You Need to Know. The New Zealand Transport Agency Waka Kotahi (NZTA) has recently reintroduced the Roads of National Significance (RoNS) program, marking a significant step forward in addressing the infrastructure needs of Tauranga and the wider Bay of Plenty region. The revitalised RoNS program will see the…
The Court Decision The recent Court of Appeal decision in Weine Family Trust v Tadd Management has significant implications for the commercial and industrial real estate market. This decision overturned an earlier High Court ruling that allowed purchasers to rely on an initial seismic assessment of a building provided by the vendor. The Court of…
The new $1.2 billion Regional Infrastructure Fund (RIF) is open for applications. The RIF aims to improve New Zealand’s economy by investing in both new and existing infrastructure projects focused on enhancing regional growth, resilience, and productivity within the regions. The RIF presents a crucial opportunity to fund projects that will benefit regional businesses, organisations…
Those involved with civil and commercial construction contracts will see the updated NZS3910:2023 General Conditions of Contract appearing in tenders coming to market. The new version is an evolution rather than a revolution of the previous 2013 version, so experience should find it easy to get to grips with. These are some of the notable…
Land covenants are a legal mechanism that restrict one landowner’s freedom to do with their property as they wish, and typically provide a benefit to another landowner or person who wishes to control a property that they do not own. In New Zealand, land covenants are often used to fill large gaps in planning rules.…
With the current economic climate of Covid-19, company Directors may question their business solvency and whether to continue trading in such circumstances. The recent Supreme Court decision of Madsen-Ries v Cooper regarding the liquidation of Debut Homes Ltd should be at the forefront of any Director questioning the solvency of their business and tempted to…
Welcome news today for the construction industry with the Government announcing the first tranche of “shovel ready” infrastructure projects to be fast tracked. Full detail of the projects can be found here.