When undertaking a major unit title redevelopment, you must first obtain the consent of all owners materially affected by the redevelopment. Then pass a special resolution (designated resolution) agreeing to the new unit plan (section 68(3) of the Unit Titles Act 2010 (“UTA”)).
The High Court has recently passed judgement in the case of Palmer v Hewett Building Limited & Anor [2021] NZHC 1460, and in doing so puts construction companies and builders alike around New Zealand on notice.
Matt Smalberger discusses recent law changes aimed at restoring the affordability of residential housing in New Zealand. Unusually, consultation is taking place now the changes are in place.
Marina Sardelic examines the New Purchase Price Allocation Rules and the implications for purchasers and vendors of business assets.