NI v LNE Ltd [2020] NZDT 1316 (23 November 2020) [pdf, 117 KB]
...[2015] NZHC 1470 (which was submitted in evidence). In that case Lang J held that the IGC payments in that case could not be regarded as “outgoings” for the purposes the agreement for sale and purchase. That agreement (on the Auckland District Law Society & Real Estate Institute form) has the same provision as to “outgoings” in the SPA. I note in that case at the relevant time WXT’s IGC charging policy was the old policy where they charged the developer. Had Phoenix Holdings...