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Prattley Enterprises Ltd v Vero Insurance NZ Ltd


David Goddard QC and Simon Foote were counsel for Vero Insurance, the successful defendant in Prattley Enterprises v Vero Insurance, a judgment of Justice Dunningham issued on 24 June 2015.

The case concerned earthquake damage to Worcester Towers, a Christchurch central city building that housed the Arts Cinemas and the Britten Motorcycle Museum. The judgment upholds a settlement agreement concluded between Prattley and Vero in 2011, which Prattley (backed and financed by Risk Worldwide Ltd, an insurance claims advocate) sought to overturn. It also contains interesting commentary on insurance policies for indemnity value and the utility of earthquake modelling to assess damage caused by multiple earthquake events.