20 Jun 2014
MERCEDES-BENZ FINANCIAL SERVICES NEW ZEALAND LIMITED v QUADRANT WHOLESALERS LIMITED [2014] NZHC 1402
- Citation
- [2014] NZHC 1402
- Court
- High Court
Because the agreements contained retention of title clauses leaving legal ownership with the creditor, they were not 'mortgages over goods' under the PLA and PLA notice provisions did not apply; CRA s32A did not afford a defence; PPSA/regime applicable to business agreements governed notices; plaintiff lawfully repossessed and sold goods and the guarantor was liable for the resulting deficiencies and default interest, so summary judgment was warranted.