In Tower Insurance ltd & anor v Nicon Ltd  NZCA 332 the Court of Appeal dismissed Tower’s appeal of a High Court decision that it was obligated to offer demolition work to Nicon where Nicon had done a demolition assessment. Nicon said that it did 1376 assessments, but was only allocated 186 demolition jobs. It claimed lost income of more than $4M from Tower/Stream. The issue was whether a written heads of agreement between Nicon and Stream/Tower was a legally binding contract. Tower said it was not binding. The High Court and Court of Appeal disagreed. There will now be a trial about the amount of money Tower/Stream must pay Nicon for lost demolition work.
0 0 Grant Shand Grant Shand2019-08-05 03:25:282019-08-05 03:25:28Tower loses demolition costs appeal