New Zealand Case Law: Decisions & Judgments

Topic

Default

Legal area

Court

3 Nov 2020

FIRST MORTGAGE CUSTODIANS LIMITED v HERBERT and [2020] NZHC 2874

Citation

(2020) 25 PRNZ 515
Court

High Court

Thackeray proceeding: summary judgment dismissed because there is a real and finely balanced factual issue whether plaintiffs, by their knowledge and involvement in lease sunset extensions and by their works programme and loan extension terms, varied or waived the contractual CCC deadline such that defendants have an arguable defence. Thorn proceeding: summary judgment granted because defendants' contention that plaintiffs were obliged to transfer funds between distinct loan facilities lacked contractual or equitable foundation; no implied term or estoppel established and defendants had no de…
15 Oct 2012

JANINE ANN WALLACE V BANK OF NEW ZEALAND HC AK CIV-2009-404-3534

Citation

openlaw-c46f0594_5bbf_4666_ad7a_cd5d7d179bfe.pdf
Court

High Court

Because Ms Wallace discontinued her claim and did not contest the Bank's counterclaim, and on the evidence the Bank established defaults, proper notice, sale proceeds and the remaining indebtedness, the Court entered judgment for the Bank for $937,947.18 and for legal costs of $78,219.07, and directed release of $24,000 paid into court to the Bank's solicitors; the Bank did not seek interest after 1 August 2012.
16 Feb 2012

AS TAYLOR AND A TAYLOR V JAYDEE HOME SOLUTIONS LIMITED HC WN CIV-2011-485-423

Citation

openlaw-a26992fb_f0b2_41a4_a85a_fc93ed33b3c6.pdf
Court

High Court

Plaintiffs ceased payments amounting to default under the instalment schedule; defendant complied with statutory notice requirements (ss 28-29) and elected court-ordered possession; contractual clause purporting automatic rescission is ineffective against the statutory scheme; plaintiffs offered no arguable defence (suspension agreement unproven, post-notice ability to pay irrelevant, unconscionability unpleaded); accordingly defendant entitled to summary judgment for vacant possession and indemnity costs per contract.
3 Nov 2011

21ST CENTURY INVESTMENTS LTD V ANZ NATIONAL BANK LTD COA CA149/2011

Citation

COA CA149/2011
Court

Court of Appeal

The Court held that the bank validly exercised the acceleration clause because there were unpaid and undisputed liabilities which entitled the bank to demand immediate repayment and the time given to pay was objectively reasonable; accordingly the statutory demand was valid to the extent of the undisputed amounts and was set aside only as to amounts found to be disputed.
25 Feb 2011

21ST CENTURY INVESTMENTS LTD V ANZ NATIONAL BANK LTD HC AK CIV-2010-404-007366

Citation

openlaw-bb0fe7df_2540_40b6_b2fd_cd80bb210718.pdf
Court

High Court

The court held the statutory demand could not stand insofar as it sought to create or rely on a current account overdraft without prior demand but upheld the bank's acceleration of the term loan as valid because adequate notice was given and default established as to certain items, resulting in a reduced enforceable demand of $782,513.52 and a costs award of $7,395.90 on a 2B scale.
14 Dec 2010

ASB BANK LIMITED V WATSON AND ANOR HC CHCH CIV-2010-409-001500

Citation

openlaw-0641cf47_842e_4450_bd47_0d917f75e6a5.pdf
Court

High Court

The court was satisfied on affidavit evidence that the defendants had no arguable defence to the bank's claims; accordingly summary judgment was granted for the plaintiff for the monies claimed and for possession of the property, with costs awarded but reduced to reflect an earlier costs order.
14 Dec 2010

FM CUSTODIANS LIMITED V NEW MILLENNIUM DESIGN LIMITED AND ANOR HC CHCH CIV-2010-409-001840

Citation

openlaw-5b6bbc75_cae9_4e72_890a_8dd1fed85620.pdf
Court

High Court

Because the defendants agreed jointly and severally to judgment on defined terms if they did not pay the agreed settlement sum by the specified date and they failed to do so, and the plaintiff proved payments on account leaving an unpaid balance, the court must enter judgment for the plaintiff for the unpaid balance and award contractual interest to the date of judgment and thereafter at the contractual rate until payment.
12 Aug 2009

LIBERTY FINANCIAL LIMITED V TAWA AND ANOR HC TAU CIV-2009-470-212

Citation

openlaw-6b4d8cbe_34e1_4561_9ea6_618b6fa06438.pdf
Court

High Court

Defendants were in substantial default, the plaintiff properly served the s119 Property Law Act 2007 notice, and the defendants offered no defence; therefore the plaintiff is entitled to possession and judgment for the unpaid advances, accrued interest and costs.
22 Jun 2009

JOHNSTON LAWRENCE SOLICITORS NOMINEE COMPANY V P K J SEARLE HC WN CIV 2009-485-794

Citation

openlaw-b6a90b90_484c_4769_be36_2735af624f7d.pdf
Court

High Court

Summary judgment was granted for the plaintiff for the principal sum of $350,000, accrued interest to specified dates and continuing interest at a daily rate; costs were awarded to the plaintiff including solicitor-client costs of $9,225, agreed disbursements of $1,401.50 and additional solicitor-client costs from 19 June 2009 fixed at $1,462.50 (50% of the claimed $2,925).
18 Sept 2008

LIBERTY FINANCIAL LIMITED V OFA JUNIOR LOMU, HESEKAIA LOMU, AND FINAU LOMU HC AK CIV 2008-404-001394

Citation

openlaw-9f1611ac_159f_41ea_bae8_b11688d02725.pdf
Court

High Court

Defendants defaulted under the loan and mortgage; valid s92 notices (preserved by s127(2) 2007 Act) accelerated the debt and entitled the mortgagee to possession; substituted service was adequate; therefore summary judgment for possession and for the debt (with contractual interest and solicitor-and-client costs) was warranted.