30 Mar 2010
MATRIX CUSTODIAN LTD V PHILLIPS HC AK CIV-2009-404-005820
- Citation
- openlaw-d64cb6f9_9226_4de1_8ef6_955b5a754b53.pdf
- Court
- High Court
The plaintiff established there was no real defence: marketing and sale steps taken by the mortgagee/receivers were reasonable in the commercial circumstances, the purchaser validly rescinded under its due diligence condition, no evidence showed breach of s176 or equitable bad faith, and defendants failed to provide an evidential foundation for a defence or a proper basis to delay judgment; summary judgment was therefore appropriate for the shortfall of $2,420,191.