9 Dec 2021
OCR INTERNATIONAL LTD v LEIGHTON [2021] NZHC 3377
- Citation
- [2021] NZHC 3377
- Court
- High Court
Clauses 3 and 4 of the repayment plan must be read together: clause 3 gives OCRI a one month notice window to propose adjustments but does not confer a unilateral right to cease repayments so as permanently to bar enforcement; clause 4 requires variation to be agreed in writing for the restraint on enforcement to continue; failure to agree restores creditor's rights under the credit documents. OCRI therefore failed to establish a genuine and substantial dispute that the debt was due and owing and the statutory demand could not be set aside.