29 Sept 2023
LAUDER v WALMSLEY [2023] NZHC 2710
- Citation
- [2023] NZHC 2710
- Court
- High Court
The nominators (the Walmsleys) retained standing to sue despite nominating the Calliope Trust; however the Term Loan Agreement is a separate, independent contract from the agreement for sale and purchase and the alleged breach of the vendor warranty does not impeach the loan demand or give rise to equitable set-off; accordingly summary judgment was entered for the Tuscany Trustees for $450,000 plus contractual interest, and the court declined to exercise its residual discretion to refuse or stay judgment.