2 Dec 2021
WAIKORO LTD v BEACH ARENA LTD [2021] NZHC 3283
- Citation
- [2021] NZHC 3283
- Court
- High Court
There was a serious question to be tried that contractual abatement under clause 27 potentially reduced the rent and outgoings owed by BAL such that the guarantors' capped exposure would be below $500,000; Waikoro was adequately protected by equity in the mortgaged apartments and would suffer minimal, quantifiable prejudice while the guarantors would suffer potentially irreversible prejudice from a forced mortgagee sale; accordingly, on balance of convenience and overall justice the interlocutory injunction restraining Waikoro from taking steps under its Property Law Act notices/mortgagee sal…