News and views

Having access to water makes a big difference to the value of farm land. Water permits can be essential to a farm or vineyard’s operations. Water permits can therefore be extremely valuable, and when buying a property it is important to make sure there is a valid water permit in place and that it can be transferred.

The High Court has ordered the Minister of Finance and the Minister of Land Information to reconsider their decision to approve the purchase of the 16 Crafar farms by Milk New Zealand Holdings Limited by using a different test.

In June, the High Court awarded exemplary damages against a lessee who had breached the terms of its pastoral lease, but what are “exemplary damages”? The case involved a company owned by John and Mary Lee. The company was the lessee under a pastoral lease of land in Cardrona Valley. Next door was a freehold property (“Waiorau”) owned by John and Mary Lee, on which they operated snow related businesses.

“A verbal contract isn’t worth the paper it is written on”- Sam Goldwyn Sam Goldwyn recognised the importance of a written contract. A recent Supreme Court case (Vector Gas Limited v. Bay of Plenty Energy Limited) highlights the importance of careful and accurate drafting of contracts.