New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Property law act 2007 s 176

Legal area

Court

10 Nov 2017

TSB BANK LIMITED v W F TAYLOR [2017] NZHC 2743

Citation

[2017] NZHC 2743
Court

High Court

The Court concluded TSB satisfied its s 176 obligations by appointing a reputable agent, obtaining a valuation, conducting a reasonable marketing campaign and a properly run auction resulting in a sale price reconcilable with the valuer; therefore the defendant had no sustainable defence and summary judgment was entered for the plaintiff.
17 Mar 2010

SOUTHLAND BUILDING SOCIETY V FAWCETT HC HAM CIV 2009-419-000720

Citation

openlaw-53159458_7f42_4d70_8c0b_e1c506db00d8.pdf
Court

High Court

No real defence existed because the plaintiff demonstrated it took reasonable commercial steps to market the property and obtain the best price reasonably obtainable at the time of sale; there was no evidence that potential purchasers existed who would have paid more, so there was no breach of s 176 and summary judgment for the principal was appropriate.