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Final chapter in New Zealand equity swaps case? Legislation to take over from the courts
In a decision that ends an 18-month legal dispute, New Zealand's highest court has refused to hear a final appeal against the Court of Appeal decision in Perry Corporation v Ithaca (Custodians) Ltd.
The background to this case, and the judgments of the High Court and the Court of Appeal, have been the subject of previous newsletters, New Zealand Court orders share forfeiture in equity swap case and New Zealand Court Of Appeal recognises "market reality" in overturning lower court decision.
However, while the matter is at an end between the parties, the legal issue at the heart of the dispute looks set to continue with the Government confirming a law change. The latest developments are discussed in full in this newsletter (pdf).
Disclaimer
This publication is necessarily brief and general in nature. You should seek professional advice before taking any action in relation to the matters dealt with in this publication.
