27 May 2016
Herron v Wallace [2016] NZHC 1129
- Citation
- [2016] NZHC 1129
- Court
- High Court
Court held there was no absolute assignment of CAPL's apartment contracts to Lombard; repayment of the Lombard Belmont facility discharged Lombard's security so Defendant Wallace had procured release and was entitled to credits reducing the apartment component to $675,000; the Queenstown apartment credit did not apply because the sale never became unconditional; SH9 did not create a separate enforceable $600,000 debt on the evidence and is best read as part of the wider arrangements; interest did not accrue because contractual triggers (title transfer or demand) did not occur; the oppression…