29 Apr 2010
SARINA INVESTMENTS LTD V SADIQ AND ANOR HC AK CIV 2009-404-5472
- Citation
- openlaw-d592aea9_e12b_49e2_a0a7_666101d3392e.pdf
- Court
- High Court
Because defendants did not advance a bona fide defence, the loan agreement was validly executed and secured, and the plaintiff provided further affidavit material addressing regulatory concerns, the Court granted summary judgment for the plaintiff for the contracted principal and capped fees to 30 June 2009 together with contractual and statutory interest, costs and disbursements; the second-named second defendant was held liable only in his capacity as former trustee and only to the extent of trust assets; referral to the Commerce Commission was declined on the material before the Court.