Tower loses demolition costs appeal

In Tower Insurance ltd & anor v Nicon Ltd [2019] 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.