19 May 2016
CHANG v LEE [2016] NZHC 1040
- Citation
- [2016] NZHC 1040
- Court
- High Court
On the proved facts the $275,000 advanced by Mr Chang was an advance/loan to be used to purchase Sunnynook and was given subject to an expectation of a ten-year term tied to employment assistance from Ms Wang; that arrangement created equitable/fiduciary obligations on Ms Wang and Ms Lee such that Mr Chang is entitled to repayment of the balance at the end of the ten-year period and an equitable charge over Sunnynook to secure that repayment; the defendant's set-off claim failed for lack of an enforceable debt and insufficient legal basis for indemnity.