16 Jul 2021
ASB BANK LTD v DAVIS [2021] NZHC 1812
- Citation
- [2021] NZHC 1812
- Court
- High Court
The Guarantee signed 2 December 2015 on its clear terms covered present and future indebtedness of the borrower including the December 2015 facility; the guarantors had access to independent legal advice and acknowledged advice was recommended; ASB owed no positive duty to explain the Guarantee or procure independent advice and no duty to perfect security prior to attachment or to accept a second-ranking security given the uncertain position; there was no arguable negligence in advice on asset sales or in timing of repossession and sale; accordingly defendants have no defence and counterclaim…