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New red zone offer

Cera has published its later red zone offer.  Details are below. Residential Red Zone Offer Recovery Plan The Residential Red Zone Offer Recovery Plan has now been approved and released The Residential Red Zone Offer Recovery Plan [PDF 716KB, 32 Pages] The media release announcing The Residential Red Zone Offer Recovery Plan » The Recovery Plan confirms the following Crown offers: For all vacant red zone land: a new Crown offer at 100% of the 2007/08 rateable land value. For all insured commercial red zone properties: a new Crown offer at 100% of the 2007/08 rateable land value and 100% of the 2007/08 rateable improvements value for the insured improvements, […]

Kelly/EQC/Southern Response- Court says Earthquake Caused Damage- not wind/flax bush

 Introduction On 22 July 2015 the High Court (Mander J) released the 107 page judgment in C & S Kelly Properties Ltd v EQC & Southern Response Earthquake Services Ltd [2015] NZHC 1690. This was the case where the primary issue was whether the damage to the foundations (floor differential 88mm) was caused by the earthquake(s).  EQC & Southern Response said that the earthquake(s) did not damage the foundations and the differential was caused by the wind, a flax bush and/or had existed since the house was built. Summary Mander J decided that Kelly had proved that the floor level differential was earthquake damage, so EQC and SR lost.  The […]

Avonside Holdings- Southern Response Loses Again

By the judgment 22 July 2015 in Southern Response Earthquake Services Ltd v Avonside Holdings Ltd [2015] NZSC 110 the Supreme Court dismissed the appeal by Southern Response against the Court of Appeal decision of 1 October 2014. It confirmed that in calculating the rebuild cost of a house under the Southern Response insurance policy for the buy another house option, 1c.ii, a reasonable estimate for professional fees and contingencies should be included in the sums payable, as if the house is actually being rebuilt. Both Courts were unpersuaded by the Southern Response argument that because the house was not actually going to be rebuilt there were no risks and […]