Clyde & Co Sydney secondment
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Imogen Allan, one of our Senior Solicitors, recently hopped across the ditch for a two week secondment at the Sydney office of global law firm, Clyde & Co.
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District Court – Health and Safety at Work Act 2015
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The new Health and Safety at Work Act 2015 (the Act) came into force on 4 April 2016. One of the major objectives of the Act was to recognise and legislate for an increasing trend in employment relationships and in the workplace environment where multiple entities simultaneously have control of a workplace and those working in it. WorkSafe v Athenberry Holdings Limited [2018] NZDC 9987 is the first defended hearing to be brought under the Act.
Read MoreXu & Anor v IAG goes to the Supreme Court
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In an update to a case covered previously in In Brief, leave for appeal to the Supreme Court was granted for Xu & Anor v IAG on 2 August 2018. The approved question for appeal is: “Was the Court of Appeal correct to dismiss the applicants’ appeal against the judgment of Nation J?”
Read MoreSupreme Court Rules on Allegedly Misleading Feltex Prospectus
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In the latest entry in the long-running Feltex saga, the Supreme Court considered what amounts to an “untrue statement” in a combined investment statement and prospectus for an IPO.
Read MoreCourt confirms at-fault driver liable for cost of hiring replacement car
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Is an at-fault driver liable for the cost of hiring a replacement car for the period the not-at-fault driver’s car is being repaired? The High Court’s answer to this is ‘Yes’ – provided these costs are reasonably incurred.
New defence to defamation
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The Court of Appeal has recently recognised a new defence to defamation.
The defence of qualified privilege arises where a person has a legal, social or moral duty or interest to make a statement to someone with a corresponding duty or interest to receive it. Lange v Atkinson extended qualified privilege to publications concerning the conduct of publicly elected officeholders and those seeking such office (i.e. politicians). The court in Lange v Atkinson declined to extend the defence further to include matters of public interest. However, the Court of Appeal in Durie v Gardiner held that societal and legal developments justify such a defence now being recognised. In doing so, it set the boundaries of a new defence of public interest.
Read MoreIn Brief Special Report 10 August 2018: Health and Safety Update
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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 MoreIn Brief Special Report 1st August 2018: AML/CFT Litigation
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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 MoreCyber Insurance – Failure to patch software costs US company more than US$243 million
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Details are emerging of how a failure to patch software can result in significant costs to a company. US company Equifax Inc. is a consumer credit reporting agency that collects information on over 800 million individual consumers and more than 88 million businesses worldwide. It provides credit scores for consumers.
Read MoreHealth and Safety: An Update
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The Health and Safety at Work Act 2015 came into force on 4 April 2016. A key feature of the Act is the significant increase in penalties for non-compliance. Effectively, the Act introduced a six-fold increase in the maximum penalties imposed under the previous Health and Safety in Employment Act 1992.
A closer look at insurance contract law review
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The Ministry of Business, Innovation and Employment (‘MBIE’) has recently proposed a review of the law around insurance contracts. The law governing insurance is fragmented, spread across six different acts, some of which are over 100 years old.
MBIE sets two objectives for the issues paper regarding the whole lifecycle of an insurance policy. One, to ensure insurers and insureds can transact with confidence, and two, to make sure all interactions between insurers and insureds are fair, efficient and transparent.
Read MoreIn Brief: Special Report 18th May 2018
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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 MoreANZIIF Liability Conference 2018
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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.
Anti-money laundering rules to kick in shortly for lawyers and conveyancers
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‘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 MoreLegislative changes for brokers coming soon
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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 MoreBest Friends Cocktail Evening
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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.
Fund Managers Canterbury Limited v AIG Insurance New Zealand Limited [2017] NZCA 325
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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 MoreDoig v Tower Insurance Limited [2017] NZHC 2997
/![Doig v Tower Insurance Limited [2017] NZHC 2997](https://images.squarespace-cdn.com/content/v1/573e489c4d088e3dc5d18bcb/1522033759053-UGOA467ZJUVFJGY9Q30H/profit+houseAsset+7.jpg)
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 MoreReview of insurance contract law: terms of reference release
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This month, Minister of Commerce and Consumer Affairs Kris Faafoi released the terms of reference for a review of New Zealand insurance contract law.
Read MoreA case of bad timing
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Wellington City Council v Local Government Mutual Funds Trustee Limited [2017]
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.
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