23 Aug 2016
KIVITS AND KIVITS v DRAPER AND DRAPER [2016] NZHC 1961
- Citation
- [2016] NZHC 1961
- Court
- High Court
The court concluded the Drapers had arguable defences sufficient to justify setting aside the regularly obtained default judgment in whole or in part: the 7 September 2010 agreement constituted an acknowledgment and there was a part payment of $150,000 which restarted limitation for the principal under s25(4) of the Limitation Act 1950, reducing the recoverable principal to $300,000; however, limitation still bars interest that fell due more than six years before proceedings commenced so recoverable interest is limited to interest accruing in the six years before the start of the proceeding.…