Southern Response applied to the Supreme Court for leave to appeal the Court of Appeal decision including a 10% contingency and 10% professional fees as part of a rebuild costing. By a brief judgment released 4 may 2015 the Supreme Court said:
A The application for leave to appeal is granted (Avonside Holdings Ltd v Southern Response Earthquake Services Ltd [2014] NZCA 483).
B The question on which leave is granted is whether the Court of Appeal was correct to find that the respondent was entitled under its insurance policy with the appellant to claim allowances for contingencies and for professional fees given that the respondent has elected to purchase a replacement property.
The appeal will now progress through the Supreme Court. So do not expect a result this year.
