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Publication: Agent News

  • Important to protect against potential liability for prior agent’s commission

    5 December 2017

    We have recently obtained a favourable judgment for Barfoot & Thompson (“Barfoots”); whereby, they recovered commission due under a sole agency agreement from vendors who sold the property privately shortly after the sole agency expired. Barfoot & Thompson Limited v Gore Nominee Limited & Hon Thi Thuy Hoang [2017] NZDC 14564The sole agency agreement included a provision that the vendors must pay the commission if they entered into a private agreement to sell their property within six months following expiry ...

  • Tim Jones retires from Glaister Ennor

    1 December 2017

    Tim Jones has advised that after 37 years with Glaister Ennor he is to retire from the firm.During his time at Glaister Ennor Tim has built a significant practice of private clients and has become an acknowledged expert in property development. He is regarded as an expert in property law by the legal fraternity and throughout the real estate business world.Tim has been an active member of the Auckland District Law Society and the New Zealand Law Society where he ...

  • Overseas Investment- Changes to come

    16 November 2017

    In her first post-cabinet press conference on 31 October 2017, Prime Minister Jacinda Ardern announced that overseas buyers will be banned from buying existing houses from early next year.While there are few details of how the ban will operate, it appears that:the Overseas Investment Act 2005 will be amended to classify residential housing as “sensitive” with amendment legislation to be introduced into Parliament before Christmas; non-residents and non-citizens (apart from Australians) will be prohibited from buying existing houses; and foreign investors will still be able to buy ...

  • Glaister Ennor wins in the Supreme Court of New Zealand

    16 November 2017

    Last month saw the successful end of a six-year dispute over the failed Kawarau Falls Station development in Queenstown, New Zealand, for a large number of investors represented by Glaister Ennor.The development was meant to be an integrated lakeside development with over a dozen hotels and serviced apartment complexes built in three stages. Unfortunately, the Global Financial Crisis halted construction and only a handful of buildings in the first stage were completed. When called upon to settle on the investment ...

  • Trusteeship under the microscope

    1 November 2017

    The integrity of trusts that are used to protect assets from the hands of creditors has been challenged in a decision of the Chancery Division of the UK Courts. There is a direct connection with New Zealand as it concerns five New Zealand trusts and a New Zealand incorporated trustee company which could well be a persuasive precedent for NZ judges to consider.The background to the case is quite astonishing and involves significant assets spread around the world and even ...