18 Apr 2013
GUY V BANK OF NEW ZEALAND HC AK CIV-2012-404-004366
- Citation
- openlaw-26a0c8ba_fb88_47b0_bf02_6ba3cdac2c41.pdf
- Court
- High Court
The court concluded BNZ remained a creditor with a debt exceeding $1,000; the debtor's purported bill of exchange did not legally extinguish the debt because it lacked the formal characteristics and authorised acceptance, and the class action or other cross-claims were not reasonably arguable to eliminate or reduce the debt below the statutory threshold; accordingly an adjudication order should be made in favor of BNZ.