3 Jul 2018
HEYWARD HOLDINGS LTD (In Liquidation) v BOOTH [2018] NZHC 1339
- Citation
- [2018] NZHC 1339
- Court
- High Court
Contemporaneous accounting records and documents established that the associated party loan was Mr Booth's liability; the purported 2015 journal entry recording an assignment had no legal effect because the burden of a debt cannot be assigned and no novation (by deed or supported by consideration) was proved; Mr Booth's contrary evidence was inconsistent and implausible. Accordingly there was no defence and summary judgment is appropriate.