The Court of Appeal has upheld the decision of the High Court in Xu & Anor v IAG, in a decision that will provide further certainty to insurers in respect of the entitlements of an assignee under an assigned insurance claim. Following the Court’s decision, it remains the case in New Zealand that replacement benefits in an insurance policy are personal to the original insured, and are incapable of being assigned.Read More
On Wednesday 16th May, partner Philippa Fee was a speaker at the ANZIIF Liability Conference. Philippa spoke about developments in D&O Insurance. Her presentation and notes are embedded below.
‘Phase 2’ of the shake-up of New Zealand’s Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) legislation is just around the corner.
From July 2018, lawyers, conveyancers, and trust and company service providers will need to begin complying with the AML/CFT Act’s strict reporting and monitoring requirements. Other entities that will come within the ambit of the Act include accountants from 1 October 2018, real estate agents from 1 January 2019, and the New Zealand Racing Board and high-value dealers from 1 August 2019.Read More
The legal and regulatory framework for insurance brokers (and other financial advisers) is set to change substantially when the Financial Services Legislation Amendment Bill is passed later this year.
The Bill has been drafted in response to a number of problems with the existing regime for financial advice, which was said to be “hindering investor confidence, participation in financial markets and informed decision making”. It is intended that the Bill will address these problems by ensuring consumers can access the financial advice they need and by improving the quality of financial advice provided.Read More
Our Best Friends Cocktail evening was held on the 27th February at our new offices on Level 18. Friends from Clyde & Co offices in Australia, Singapore and beyond were present as well as Fee Langstone staff and clients.
Guests were offered a range of specially designed cocktails including Promissory Espresstoppel, Spritzgerald v Muldoon, Interim Ginjunction, Harvey Specter Wallbanger and the Donoghue v Stevenson.
The night ended with everyone braving the wind to enjoy a glass or two on the rooftop at Level 19 overlooking the harbour.
Many thanks to all who came, especially those from afar.
This Court of Appeal decision asks whether a PI or D&O policy should respond to a claim against directors of a fund management company who allegedly negligently signed quarterly directors’ certificates and confirmations.Read More
Purchasers with assigned rights to an insurance claim for an earthquake damaged house argued unsuccessfully that their insurer was estopped from denying full replacement cover. The court found that the purchasers had still profited from the purchase, even if only paid indemnity value.Read More
Wellington City Council v Local Government Mutual Funds Trustee Limited 
A leaky apartment building in Wellington has resulted in a $10m pay-out by the Wellington City Council, due to the Council’s failure to notify its insurer within a reasonable time frame.Read More
Building (Earthquake-prone Buildings) Amendment Act 2016
The Building (Earthquake-prone Buildings) Amendment Act 2016 which came into force on July 1, 2017 brings radical changes to the methodologies by which local councils, engineers and building owners will carry out assessments and deal with earthquake-prone buildings. These changes are limited to commercial buildings and residential buildings that comprise of two or more stories and three or more household units.Read More
PRESS RELEASE TUESDAY 12 DECEMBER 2017
Global law firm Clyde & Co and New Zealand firm, Fee Langstone, have established a 'best friends' association. The two firms will work together, refer work to one another, and undertake joint marketing initiatives across the region as part of the arrangement.Read More
The Legal 500 Asia Pacific 2018 rankings were announced last week and Fee Langstone is delighted to have been ranked as a Top Tier Firm for Insurance. Philippa Fee and Craig Langstone are listed in the elite "Leading Lawyers" list, The Legal 500 Asia Pacific 2018's guide to outstanding lawyers in Asia Pacific.
Virginia Wethey is listed in the "Next Generation Lawyers" list, recognising up-and-coming lawyers.
When Mr Ivey won £7.7m at Crockfords casino over three consecutive nights, he could not believe his luck. However, the painstaking techniques Mr Ivey had used to win such a huge sum were called into question when the casino refused to pay out, claiming he had cheated. The UK Supreme Court determined that Mr Ivey had indeed cheated and took the chance to transform the test for dishonesty in criminal law and confirm the test for civil actions.Read More
Following recent changes to the Evidence Act, the court can lift privilege for documents made in connection with settlement negotiations or mediations—if it is ‘in the interests of justice’. This novel and ongoing leaky building claim tests out the new law.Read More
MPI has been ordered to release details of its insurance cover to a group of kiwifruit growers who are suing it for negligence. The High Court ruled that the availability of insurance to MPI for liability for biosecurity risks is relevant to deciding whether MPI held a duty of care towards the growers.Read More
For negligence cases initiated near the tail end of a limitation period, determining the ‘date of loss’ is often crucial. In this recent case concerning negligent tax advice, the Supreme Court considered whether a vendor’s income tax liability arose the moment they entered into an unconditional agreement to sell land, or only once settlement occurred.Read More
On 2nd November Fee Langstone staff and guests enjoyed a relaxed evening at Everybody's. Partygoers relived the golden age of air travel, featuring retro hits from band Rocking Roller-Coasters and DJ Sal Valentine. Dance troupe Porkchop entertained us with their unique mix of traditional Samoan and contemporary dance moves.Read More
The Supreme Court has issued its judgment on a challenge, based on champerty principles, to the arrangements put in place by a litigation funder to fund an action against auditors and directors. In so doing it has introduced uncertainty to the law surrounding litigation funding, and potentially opened up new avenues by which such arrangements may be challenged in future.Read More
Several hundred leaky building owners are claiming that companies in the James Hardie group have breached their duty to warn, inform and/or to take reasonable steps to withdraw defective cladding products. Two holding companies, not involved in the manufacturing process, applied for summary judgment to strike out the claim, but the Court has found the building owners have an arguable case.Read More