Nelson City Council v The Yacht Pounamu [2015] NZHC 1664 (16 July 2015)

Last Updated: 22 July 2015

IN THE HIGH COURT OF NEW ZEALAND WELLINGTON REGISTRY

CIV 2014-442-24 [2015] NZHC 1664

BETWEEN	NELSON CITY COUNCIL Plaintiff
AND	THE YACHT POUNAMU Defendant

Hearing:	On Papers
Counsel:	M J Logan for Plaintiff
Judgment:	16 July 2015

_{JUDGMENT (NO 2) OF BROWN J}

[1] In my Judgment of 17 April 2015¹ I made an order in the terms sought that the yacht Pounamu be appraised and sold by way of public tender or, if no satisfactory bids were received by way of tender, by private treaty. I reserved leave to the plaintiff to apply for further directions should that be required.

[2] In a memorandum dated 16 July 2015 counsel for the plaintiff advises that the Registrar has obtained quotations from two vessel brokers in Nelson, both of whom will charge $3,000 to conduct the tender process. Because the vessel has now been valued as having a market value between $12,000 and $15,000, the tender cost would be a substantial portion of the potential sale value.

[3] However one of the brokers has indicated that he has a private client who may be interested in purchasing the vessel. A private treaty sale would have the advantage of avoiding the cost and delay associated with the tender process. Accordingly the plaintiff seeks a further direction to permit the Pounamu to be sold

_{either by way of private treaty or public tender.}

¹ _{Nelson City Council v The Yacht Pounamu [2015] NZHC 752.}

NELSON CITY COUNCIL v THE YACHT POUNAMU [2015] NZHC 1664 [16 July 2015]

[4] I agree that the circumstances are such that a more flexible order is appropriate allowing for sale by private treaty or public tender in the alternative. Consequently the order at [19] of my earlier Judgment is amended to read as follows:

[19] The Court makes an order that the defendant vessel, Pounamu, be appraised and sold either by way of private treaty or public tender.

[5] Leave is reserved to the Council to apply for further directions should that be required.

_{Brown J}

Solicitors:

Pitt & Moore, Solicitors, Nelson