EQC appears to have short paid about 23,000 homeowners for land damage from the Canterbury Earthquakes of 2010/2011. Rather than pay the cost to repair the land it paid an alleged diminution in value. This is a difference of about $140,000 for the average homeowner. Two homeowners have sued EQC and asked the High Court to permit them to represent other similar homeowners. The Christchurch High Court will hear the representative application on 22 & 23 February 2023. The claim is funded by a litigation funder. Here is a website about the claim. EQC appears to have forecast a liability of about $2.1B for land claims but paid out only about $500M.
Auckland
PO Box 137243,
Parnell, 1052
Tel: +64 27 434 5489
grant@grantshand.co.nz
