The Supreme Court has dismissed an appeal by owners of an onsold quake-damaged home. Homeowners fighting to be paid out the replacement value for a house they bought in earthquake-damaged condition have lost their appeal in the Supreme Court. The owners had gone to the Supreme Court after losing their 2017 High Court case, which they then challenged unsuccessfully last year in the Court of Appeal. In the High Court case, Xu and Diamantina Trust Ltd had sought $163,000 from EQC and $353,888 from IAG. However, Grafton said the council sympathised with those buying onsold homes under the impression they had been reassigned all the original owner's insurance benefits.

Source: Stuff July 03, 2019 03:33 UTC