Liquidated Damages,
Practical Completion,
Material Breach,
Cancellation,
Construction,
NZS3910,
#genuine pre-estimate of loss,
Readers will recall from an earlier post that the Court of Appeal followed the English Supreme Court decision in Cavendish in formulating the test for penalties as being whether or not the secondary obligation (the penalty) was out of all proportion to any legitimate interest in the innocent party in enforcing the primary obligation (the breach).
Whether the appeal is on the formulation of that test (which would seem unlikely) or its application remains to be seen.