Landmark EQC settlement agrees it must repair homes to 'when new' state

Landmark EQC settlement agrees it must repair homes to 'when new' state
Sophie Boot
By Sophie Boot April 28 (BusinessDesk) - The Earthquake Commission has cut a deal with 98 Canterbury homeowners that affirms the government entity's responsibility to repair earthquake-damaged property to a 'when new' state, as well as covering repairs for undamaged parts of a property and clarifying its position on cash settlement calculations. In a joint statement between EQC and the EQC Action Group, both parties agreed EQC would repair earthquake damage to a condition substantially the same as 'when new'. The property owners dropped t...