Inlet Storage Limited v United Movers Limited [2024] NZDC 6928

This case involved consideration of the provisions of the Property Law Act which exonerate tenants from liability for fire at leased premises where the landlord is insured.  The District Court took a stronger line than has been the case in previous judgments, saying that the exoneration provisions apply to bar claims for all losses that might otherwise be sued for.   Pauline Davies and Dayna Vautier acted for the successful defendant.

The New Zealand Institute of Chartered Accountants (NZICA) has recently issued a revised set of Rules pursuant to the New Zealand Institute of Chartered Accountants Act 1996.  The new Rules replace the 4 December 2020 version and became effective on 11 March 2024.  They contain a number of amendments, including providing for accounting firms, partnerships and other practice entities to be members of NZICA

In a recent High Court decision, CBL Corporation Ltd (CBLC) and four of its former directors – Sir John Wells (chairman of the board of directors), Tony Hannon, Paul Donaldson, and Ian Marsh (each of whom were independent non-executive directors) – were ordered to pay pecuniary penalties relating to the making of false and misleading statements and for continuous disclosure breaches under the Financial Markets Conduct Act 2013 (Act).  The defendants had previously made admissions of liability in relation to contraventions of the Act in a settlement agreement entered into with the FMA in May 2023, so the focus of the hearing was on the level of the imposed penalties.