Naera v Fenwick - Whakapoungakau 24 Block (2011) 34 Waiariki MB 151 (34 WAR 151) [pdf, 193 KB]
...also sought confirmation that payments under the BOT Agreement are non-refundable. Payments under the BOT Agreement are made pursuant to the terms of that agreement. The upfront fees payable by Tikitere Limited Partnership to TGL pursuant to clause 13.1 and the royalty payments during the operational period payable pursuant to clause 13.2 of the BOT Agreement, are not expressed to be refundable by the terms of the BOT Agreement. [78] In other words, as I understand the position fr...