Off the plan buyers to brace themselves

For those struggling to find a home in Auckland, off the plan purchases were looking attractive for a while, mainly because buyers were able to get around banks’ Loan-to-Value Ratio rules, sometimes paying only a 10 per cent deposit compared to a 20 per cent deposit required to buy an existing home. However, potential off…

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State intervention removes arbitration clauses

This blog post was written by Stuart Robertson, one of the partners in Kensington Swan’s construction team. A right to arbitrate a dispute arises from an agreement to arbitrate within the contract entered into by the parties. It reflects the fundamental freedom of choice at the heart of contract law. But are all contracts suitable…

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Hawaii’s road woes roll on

This blog post was written by Stuart Robertson, one of the partners in Kensington Swan’s construction team.  A Washington DC think tank, Reason Foundation, has released its latest annual report on the cost-effectiveness and performance of US state, as opposed to local, roading infrastructure. Unfortunately for the Aloha State, its overall rating was 48th out…

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Liquidation bars progress payments in Victoria

In New Zealand, set-offs usually do not apply to a statutory demand issued in reliance on the Construction Contracts Act 2002 (‘CCA’). This is because section 79 prohibits set-offs other than those of an undisputed liquidated amount. What has not been settled is whether this section would apply to prevent set-off when liquidators are appointed…