18 Apr 2013
ZHANG V DONG HC AK CIV-2012-404-2223
- Citation
- openlaw-749a7c6d_9365_4f89_a550_2f215cf523b9.pdf
- Court
- High Court
The court accepted the plaintiff's evidence that an antecedent oral agreement existed making the NZ$1,000,000 a loan secured by a temporary transfer of shares; this was proven by contemporaneous actions (no beneficial exercise of shareholder rights, no due diligence, salary paid without work, payments described as interest, subsequent draft loan/security agreements and emails) and credibility findings; accordingly the plaintiff was entitled to judgment for repayment plus interest.