Prattley v Vero Insurance – Costs judgment


Prattley Enterprises Ltd unsuccessfully sued Vero Insurance  to set aside a settlement agreement on insurance claims for earthquake damage to Worcester Towers.  It lost in the High Court, Court of Appeal and Supreme Court.  Risk Worldwide funded the litigation.  In Prattley Enterprises Ltd v Vero Insurance New Zealand Ltd [2017] NZHC 1599 the High Court (Dunningham J) awarded Vero $277,674 for legal costs and $467,571.67 for disbursements.  Vero had sought $596,508 for legal fees and $472,800.48 for disbursements.  Apparently Risk Worldwide agreed to meet the costs as the funder of the litigation.