New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Reopening oppressive credit contracts

Legal area

Court

16 Mar 2016

XIAO v SUN [2016] NZHC 454

Citation

[2016] NZHC 454
Court

High Court

At interlocutory stage the s13 presumption that the contracts are consumer credit contracts had not been rebutted; there are serious and arguable issues that the defendant carried on a business or practice of lending and breached CCCFA disclosure obligations and that the contracts may be oppressive under s120/s124; factual conflicts exist that preclude summary judgment; overall justice and balance of convenience required granting an interim injunction restraining enforcement of the PLA notices pending substantive determination.
23 Jan 2009

DAVIES & CO SOLICITORS NOMINEE COMPANY LTD V CRAWFORD AND ANOR HC AK CIV 2007-404-7999

Citation

openlaw-22e2fe00_c0b5_44e8_9a19_1bed8d0eb5f1.pdf
Court

High Court

Summary judgment entered for plaintiff on the loan claim because the plaintiff did not exercise the power of sale so statutory duty under s103A PLA did not apply and defendants produced no sufficient evidence of equitable bad faith or collusion by plaintiff to found a defence or set-off; however it was arguable that s118/120 CCCFA may allow reopening in respect of fees charged, so plaintiff's judgment was reduced by a fees credit of $500,000 and given subject to credit for net proceeds of the Ruawai sales, with contractual interest at 19.5% from 6 March 2007 and solicitor/client costs awarded…