15 Mar 2012
MCARTHUR RIDGE INVESTMENTS LIMITED V SCHULZ HC CHCH CIV-2011-409-001680
- Citation
- openlaw-e3242a44_375e_4f39_b2b9_32190cef384b.pdf
- Court
- High Court
Liability on the guaranteed loans was established and summary judgment granted for liability, but the plaintiff did not discharge its onus to show there was no arguable defence as to quantum because it failed to provide sufficient evidence about the mortgagee sale process (valuations, detailed marketing steps, negotiations with purchaser) and did not eliminate an arguable case that the default interest rate may be a true penalty; accordingly summary judgment as to amount was refused and a trial on quantum ordered.