28 Jul 2023
DEMPSEY v SOUTH ISLAND INVESTMENTS LIMITED [2023] NZHC 1999
- Citation
- [2023] NZHC 1999
- Court
- High Court
The mediation clause in the 16 April 2018 loan agreement, although brief, was sufficiently binding and the court may imply reasonable procedural terms; defendants failed to demonstrate a genuine dispute that repayment of principal was linked to development completion, but genuine disputes exist regarding interest calculation and the enforceability/scope of Mr Carlin's personal guarantee. Consequently the proceedings are stayed as to the disputed issues (interest and guarantee) pending mediation, but summary judgment proceedings on recovery of the loan principal are to proceed and a hearing wa…