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Court win in Auckland leaky home suit

Australian building materials giant James Hardie has suffered another blow in its battle against New Zealand leaky building owners.

Friday, September 1st 2017, 4:10PM

by The Landlord

The Auckland High Court has given leave for a class action suit against seven James Hardie companies to proceed against all of the companies allegations have been levelled at.

Involving 365 plaintiffs with 1075 residential dwellings, units or buildings, the action alleges that the seven companies were involved in the production and sale of defective cladding products, namely Harditex, Monotek and Titan Board.

The seven companies are James Hardie New Zealand, Studorp, James Hardie NZ Holdings, RCI Holdings, James Hardie Australia, James Hardie Research and James Hardie Industries.

While the court heard interim applications on the action last November, it has just released its decision on the application of several of the James Hardie companies to be removed from the action on the grounds there was no case against them.

Justice Mary Peters ruled that two of the companies (RCI and James Hardie NZ Holdings) would remain in the action.

She also ruled that ASX-listed James Hardie Industries should also remain in the claim – as long as the plaintiffs amend their claim.

Lawyer Adina Thorn, whose firm is representing the plaintiffs, said the decision is only an initial decision, but it is a positive first step for the hundreds of leaky building owners that they act for.

These owners have suffered massive repair costs or loss in value and many suffer health problems flowing from weathertighness issues with James Hardie cladding, she said.

“The decision effectively allows the owners to continue against all of the James Hardie companies that the owners claim against, although the claim against the Australian listed company must be narrowed.”

Thorn said the case highlights the enormous difficulty for owners seeking justice but is very encouraging for them.

“It also highlights the great need for owners to group together when they dealing with large multinationals that are hugely resourced.”

There is currently another class action against James Hardie getting underway in Wellington.

Read more:

Leaky building mega suit hits court 

New chance to join leaky building lawsuit 

« Values fall as investors leave marketRMA by-pass to encourage development »

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Lender Flt 1yr 2yr 3yr
AIA - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.24 6.75 6.65
ANZ 8.64 7.84 7.39 7.25
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 7.24 6.79 6.65
ASB Bank 8.64 7.24 6.75 6.65
ASB Better Homes Top Up - - - 1.00
Avanti Finance 9.15 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 7.24 6.79 6.65
BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
BNZ - Rapid Repay 8.69 - - -
BNZ - Std, FlyBuys 8.69 7.84 7.39 7.25
BNZ - TotalMoney 8.69 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 7.04 - -
Co-operative Bank - Owner Occ 8.40 7.24 6.79 6.65
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 7.74 7.29 7.15
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
Heartland Bank - Online 7.99 6.69 6.45 6.19
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 7.05 6.75 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.79 7.39 7.25
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 8.25 7.79 7.55
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 7.25 6.79 6.65
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.75 7.35 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
Resimac - LVR < 80% 8.84 8.09 7.59 7.29
Lender Flt 1yr 2yr 3yr
Resimac - LVR < 90% 9.84 9.09 8.59 8.29
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
Resimac - Specialist Clear (Full Doc) - - 9.49 -
SBS Bank 8.74 7.84 ▼7.29 ▼6.59
SBS Bank Special - 7.24 ▼6.69 ▼5.99
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 6.74 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 8.04 7.55 7.45
Lender Flt 1yr 2yr 3yr
TSB Special 8.64 7.24 6.75 6.65
Unity 8.64 6.99 6.79 -
Unity First Home Buyer special - - 6.45 -
Wairarapa Building Society 8.60 6.95 6.85 -
Westpac 8.64 7.89 7.35 7.25
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 7.29 6.75 6.65
Median 8.64 7.29 7.29 6.65

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