New Zealand Case Law: Decisions & Judgments

Topic

Mortgagee duty of care

Legal area

Court

8 Jun 2012

FUNG v ANZ NATIONAL BANK LIMITED HC AK CIV-2011-404-007996

Citation

openlaw-705dc705_7da1_4f95_9c54_ed6bddd47d90.pdf
Court

High Court

On the pleaded facts the broker was not shown to be ANZ's agent and even if attributed to ANZ the statements were opinion/future conduct not actionable misrepresentations or misleading silence; no qualifying contractual mistake or reasonable reliance for estoppel; the mortgagee sale did not show breach given forced-sale valuation; consequently the defence and counterclaim disclosed no reasonable prospect of success and were properly struck out.
24 Mar 2010

ASB BANK LIMITED V PI ANDERSON HC CHCH CIV-2009-409-2522

Citation

openlaw-1a2d6487_1f21_47c2_9100_3844890a7a4a.pdf
Court

High Court

The plaintiff did not breach its s176 duty because it acted on competent professional advice, implemented extensive marketing and an auction process, and reasonably concluded that selling the Oxford property combined was appropriate given likely delay and significant costs to create separate titles; the defendant therefore had no real prospect of a defence and summary judgment was granted for the outstanding debt plus interest and costs.
13 May 2009

RUAWAI PROPERTIES LIMITED AND ORS V DAVIES & CO SOLICITORS NOMINEE COMPANY LIMITED HC AK CIV 2009-404-000454

Citation

openlaw-326fd318_0e5e_4c9a_a035_fb152beff26b.pdf
Court

High Court

Applicants failed to demonstrate a legally sustainable counterclaim or set-off under s290(4)(b); the alleged duty of care/equitable duty arising from delay in sale is contrary to binding authority (Countrywide) and there is no clear and persuasive evidence of a real basis for set-off, therefore the statutory demands are not set aside and payment within fifteen working days is ordered or creditor may apply for liquidation.

New Zealand Case Law

FUNG v ANZ NATIONAL BANK LIMITED HC AK CIV-2011-404-007996

ASB BANK LIMITED V PI ANDERSON HC CHCH CIV-2009-409-2522

RUAWAI PROPERTIES LIMITED AND ORS V DAVIES & CO SOLICITORS NOMINEE COMPANY LIMITED HC AK CIV 2009-404-000454