New Zealand Case Law: Decisions & Judgments | LexChat

New Zealand Case Law

Duty under property law act s176

  • 29 Feb 2012

    BANK OF NEW ZEALAND V ANTHONY EDWARD KEANE HC AK CIV-2011-404-005482

    Citation
    openlaw-7050e2f8_9dc1_407a_8492_5fbbeab0f78b.pdf
    Court
    High Court

    Defendant had no arguable defence: the Bank obtained independent valuation advice and appointed an experienced agent, ran a reasonable marketing campaign taking prior exposure into account, and the sale result reflected the market under prevailing conditions; the CCCFA and Fair Trading Act allegations were not tenable on the pleaded facts; no principled basis existed to exercise discretion to refuse summary judgment; summary judgment entered for the Bank.

    • Mortgagee sale
    • Guarantee liability
    • Duty under property law act s176
    • Oppression under cccfa
    • Misleading and deceptive conduct under fair trading act s9
    • Summary judgment discretion

  • 6 Oct 2011

    ANZ NATIONAL BANK LIMITED V DEREK RICHARD MANTHORPE AND MAXINE LOUISE MANTHORPE HC WN CIV-2011-485-1223

    Citation
    openlaw-95637afb_b942_4a01_8101_6e95fde75999.pdf
    Court
    High Court

    The Bank complied with s176: it obtained multiple valuations, conducted a commercially reasonable marketing campaign, and sale prices were within or close to valuation/appraisal ranges; the defendants' price disparity argument is insufficient given intervening market changes and they had independent advice, so no tenable duty-to-advise claim exists; summary judgment for the plaintiff was ordered for the deficiency sums with interest and costs.

    • Mortgagee sale
    • Duty under property law act s176
    • Summary judgment
    • Lender advisory duty
    • Deficiency judgment