V H NARAYAN AND ANOR V S NARAYAN (AKA S PAL) HC AK CIV 2009-404-002398

V H NARAYAN AND ANOR V S NARAYAN (AKA S PAL) HC AK CIV 2009-404-002398

Costs were declined because the Court found the 'irrevokeable document' recorded a loan to Vicky Narayan, the respondent Sameeta Narayan was not privy to or aware of the loan and was not responsible for the events leading to litigation, and it would be inappropriate to award costs against her; additionally, interest...

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Citation
openlaw-8f28273c_d505_4333_ac76_3ad9278b70d5.pdf
Parties
First Appellant: Vicky Harish Narayan; Second Appellants: Bijay Narayan and Sarojni Narayan; Respondent: Sameeta Narayan (aka Sameeta Pal)
Court
High Court
Jurisdiction
New Zealand
Judgment Date
20 November 2009
Procedural Posture
Property (relationships) Act 1976 / Appeal to High Court — Judgment on Costs Reserved
Outcome
No costs awarded to any party; interest earned on deposited funds treated as relationship property; no entitlement for Mr and Mrs Narayan senior to interest earned while funds were on deposit.
Legal Topics
Relationship Property, Relationship Debt, Costs, Interest on Deposit, Irrevokeable Document
Family Law Property Law Civil Procedure Costs Law Relationship Property Relationship Debt Costs Interest on Deposit +1 more

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Parties

Vicky Harish Narayan

First Appellant

Bijay Narayan and Sarojni Narayan

Second Appellants

Sameeta Narayan (aka Sameeta Pal)

Respondent

Procedural Posture

Property (relationships) Act 1976 / Appeal to High Court — Judgment on Costs Reserved

Legal Issues

  1. 1 Whether costs should be awarded
  2. 2 Legal effect of the 'irrevokeable document' (loan vs gift)
  3. 3 Whether interest earned on deposited funds is relationship property

Ratio Decidendi

Costs were declined because the Court found the 'irrevokeable document' recorded a loan to Vicky Narayan, the respondent Sameeta Narayan was not privy to or aware of the loan and was not responsible for the events leading to litigation, and it would be inappropriate to award costs against her; additionally, interest earned on the deposited sum is relationship property and not claimable by Mr and Mrs Narayan senior.

Court Disposition

No costs awarded to any party; interest earned on deposited funds treated as relationship property; no entitlement for Mr and Mrs Narayan senior to interest earned while funds were on deposit.

Orders

  • Costs are declined and each party shall bear their own costs.
  • Interest earned on the sum of $92,725.71 while it was on deposit is relationship property and is to be dealt with under the Property (Relationships) Act 1976.