28 Jul 2015
WALKER AND SCUTTER & ORS v FORBES & ORS [2015] NZHC 1730
- Citation
- [2015] 3 NZLR 831
- Court
- High Court
The court held PwC failed to prove either Waterhouse scenario: the combined Funding Agreement and Assignment did not amount to an abuse of process on traditional grounds nor did it constitute an impermissible assignment of a cause of action. The Assignment was a bona fide transfer of a debt/security interest and the litigation could proceed; therefore the stay application under r 15.1 was declined.