5 Mar 2014
ANZ BANK NEW ZEALAND LTD v B I LUMSDEN [2014] NZHC 370
- Citation
- [2014] NZHC 370
- Court
- High Court
The judge found that the results of the mortgagee sale of multiple similar lots produced prices sufficiently far below valuer and agent forced‑sale estimates and the nearby sale of lot 2 to raise a real doubt about whether the Bank fulfilled its s176 duty when marketing all lots together; that doubt defeated summary judgment on quantum, but the defendant had no real defence to liability under his guarantee so summary judgment on liability and judgment on the personal account were entered, with quantum of deficiency to be tried.