Indemnity costs order capped by judge as amount sought ‘does not appear to bear a proportionate relationship to the nature and extent of the litigation’.
Auckland businessman says settlement is about ‘cutting our losses’, while Police say they don’t intend to use the Act ‘routinely’ for health and safety infringements.
Lawyer representing investor group has previously threatened to sue NBR on behalf of Du Val.
UPDATE: The imminent arrival of cash from the redemption of Arria NLG bonds persuades the High Court to grant reprieve.
Roger Partridge says court is blurring the line between its role and Parliament’s role of making laws.
Seen as a test case, the police had frozen the assets and bank accounts of a family-owned business for being ‘fundamentally non-compliant’ with health and safety, an action normally reserved for gangs and drug dealers.
Significant implications for directors, particularly if creditors are well-funded or ‘determined’, lawyer says.
Meanwhile, the family trust of Kenyon and Charlotte Clark has also been put into receivership.
Regulator files civil court action after bank overcharged customers $3.9m over eight years.
The 341-square-metre home, bought for $1.68 million in 2018, has a capital value of $2.19m.