The High Court of New Zealand has approved a class action backed by Canterbury Litigation Funding against The Earthquake Commission (EQC) on behalf of tens of thousands of homeowners who bought earthquake damaged homes they believed were properly repaired by EQC, but subsequently discovered their homes still had issues and were rejected by the Government On-Sold programme.
A lawsuit filed in New Zealand against the two major banks in September will be allowed to proceed on an opt-out basis, a significant ruling according to lawyer Scott Russell. The case is being jointly funded by Australian litigation funder CASL and New Zealand litigation funder LPF Group.
Mainzeal liquidators Andrew Bethall and Brian Mayo-Smith are appealing the Court of Appeal ruling which found the directors’ decision to continue trading the company recklessly, while technically insolvent for nine years, did not result in a material loss to creditors. The directors include former prime minister of New Zealand, Dame Jenny Shipley. The liquidators are backed by the litigation funder LPF.