SD v IE & DE [2021] NZDT 1588 (5 August 2021) [pdf, 262 KB]
...undertaking to be clearly articulated. If the parties had intended that the retention fund could be used for reasonable remediation and rectification costs only, with the balance being refunded to when the remediation was complete, this would have formed part of the undertaking. 11. I accept the submission of IE & DE that the purpose of the undertaking was to incentivise prompt completion of remedial works so that they could move in as quickly as possible, at a crucial time of the...