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…