On 23 December 2013, the Supreme Court delivered what was presumably its last civil decision of the year: BFSL 2007 Limited & Ors and Bridgecorp Ltd & Ors v Steigrad, Houghton v AIG Insurance New Zealand Limited & Ors  NZSC 156 (mercifully shortened to “Steigrad” for easy reference) .
In short, the Supreme Court allowed an appeal from the decision of the Court of Appeal. Sandy versions of this decision are no doubt being consulted by members of the profession on beaches all around New Zealand. Some will be whooping for joy, others may feel more like flinging the document into the ocean. Longer analysis to follow shortly.
Read the full decision here:- Steigrad Supreme Court judgment.