Court rules on Turners’ car-yard quarrel and the non-compliant Hellcat

Court rules on Turners’ car-yard quarrel and the non-compliant Hellcat
A Dodge Challenger Hellcat featured in the high court case between Turners and a vendor (Photo: Deposit Photos)
Michael Andrew
Turners Automotive did not breach fundamental covenants in a contract with a vendor who was banned from its car yards, the high court has found.Entrepreneur and Buy Right Cars founder Brandon Orlandini, who sold the business to Turners in 2016, sued the NZX-listed company after the relationship soured and he claimed he was unable to achieve future earnouts.The acquisition deal of Buy Right Cars involved Turners paying $9.2 million in cash, buying $22m of stock, and agreeing to pay another $6.12m over two years – if performance targets wer...

More Markets

Your mid-year investment health check
Markets

Simon Robertson: Your mid-year investment health check

What should you really be looking for from your fundie? 

Simon Robertson 05 Jul 2025
Tourism Holdings stalls as NZ sharemarket ends week on high
Markets Market Close

Tourism Holdings stalls as NZ sharemarket ends week on high

The NZ sharemarket bounced back as large-cap stocks balanced gains and losses.

Tom Raynel 04 Jul 2025
Forsyth Barr shifts Turners Automotive to neutral
Markets

Forsyth Barr shifts Turners Automotive to neutral

The company has delivered five consecutive years of record earnings.

Rebecca Howard 04 Jul 2025
Vital board backs Tait takeover
Markets

Vital board backs Tait takeover

Vital’s board has unanimously recommended that shareholders and option holders accept a full takeover offer from Tait Communications, despite their view that it undervalues the company.In May, Vital shares rallied after it disclosed that Tait, a Christchurch-based critical commun...

Gregor Thompson 04 Jul 2025