Amaltal Corporation Ltd v Maruha Corporation - [2007] 1 NZLR 608

Commercial law — Joint venture — Japanese and New Zealand fishing companies — Misrepresentations as to amortisation of fishing quota for taxation purposes — Whether inference of dishonesty could be drawn on facts — Whether parties had “parallel understanding”.

Equity — Fiduciary relationship — Commercial transaction — Features of fiduciary relationship — Fishing joint venture — Whether one party dependent upon the other.

Practice and procedure — Limitation — Fraud exception — Commercial transaction 20 years previously — “Reasonable diligence” test — Whether deceit could have been discovered with reasonable diligence — Whether plaintiff’s inquiries “deflected” — Limitation Act 1950, s 28.

Tort — Deceit — Elements of deceit — Dishonesty — Fishing joint venture — Misrepresentations as to amortisation of fishing quota for taxation purposes — Whether inference of dishonesty could be drawn on facts — Whether but for dishonesty plaintiff would have advanced large sums it did.