CBL Insurance liquidators argue excluding liability real point of contention.
The lawyer for CBL Insurance’s liquidators has said PwC cannot contract out of being responsible for breaches of the insurance regulatory regime made by actuaries it appointed.
McGrathNicol liquidators Kare Johnstone and Andrew Grenfell are trying to keep their claims alive in the Auckland High Court as the ‘BigFour’ accounting firm and appointed actuaries Grant Mackay and Paul Rhodes seek to have them struck out before trial.
The plaintiffs allege a breach of contract against the firm responsible for Mackay and Rhodes’ actions. Coupled with PwC, the appointed actuaries are alleged to have breached a duty of care in negligence owed
The lodge was owned by Belgium-based Worldwide Leisure Limited. In the application, the investors said they intended to continue operation of the Huka Lodge business and expand the main lodge and develop new spa and gym facilities.
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The Overseas Investment Office has given the green light for the sale of Huka Lodge to a United States-based private equity firm. The primary benefits of the sale included the creation of about four new permanent full-time roles and 25 temporary roles, an increase in exports due to the investors’ extensive and established distribution network, advancement of Tourism NZ’s premium sector strategy and the introduction into New Zealand of additional investment, according to the Overseas Investment Office (OIO) decision.
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