14 Dec 2010
DAVID JOHN TAYLOR AND ANOR V BANK OF NEW ZEALAND AND ANOR HC CHCH CIV-2008-409-000964
- Citation
- openlaw-97858038_5343_4bfe_b399_63e0b5854ac6.pdf
- Court
- High Court
BNZ validly appointed receivers because alternative events of default (insolvency and circumstances materially adverse to BNZ's interests) existed at the relevant time; in any event plaintiffs (notably Mr Taylor) were estopped from challenging the appointment by their conduct; failures to obtain a third-party guarantee or procedural criticisms did not amount to bad faith or dishonest assistance and did not discharge guarantors; receivers acted within statutory duties and achieved a reasonable realisation; all claims against BNZ and the receivers were dismissed.