New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Repayment evidence

Legal area

Court

10 Sept 2021

GEORGES v AL-HADDAD [2021] NZHC 2365

Citation

[2021] NZHC 2365
Court

High Court

The deed dated 10 May 2018 was held valid and binding; the plaintiff failed to prove personal liability for amounts advanced to the defendant's company; credible evidence (bank withdrawals, corroborating spouse evidence and contemporaneous email) established that the defendant made substantial cash repayments which reduced the principal; the 9% default interest clause was not an unenforceable penalty because it protected the lender's legitimate interest and was applied only to unpaid interest in practice; on that basis judgment was entered for the plaintiff for $386,690.89.
20 May 2014

INTERNATIONAL SERVICES AND SYSTEMS LIMITED v WOODS & ANOR [2014] NZHC 1056

Citation

[2014] NZHC 1056
Court

High Court

The Court held the plaintiff advanced both the First and Second Advances under the executed deeds; there was no credible evidence of an oral 'wash up' variation; there is no evidence of repayment of dividends to reduce principal; the parties accepted that liability is limited to the assets of the Mark Woods Trust; accordingly judgment for the unpaid principal and interest was entered for the plaintiff and costs awarded on a 2B basis with a 50% uplift.