23 Aug 2023
HE v BANK OF NEW ZEALAND [2023] NZCA 381
- Citation
- [2023] NZCA 381
- Court
- Court of Appeal
The Court held the s 119 notice was validly served on Mr He via his nominated/ostensible agent Mr Yuan under the loan documents and s 355/358 of the Property Law Act; service on Bella or the Secretary to the Treasury was not required because Bella had been removed from the Companies Register and its interest devolved to Mr He under s 72(2)(a); BNZ fulfilled its s 176 duty by engaging agents, conducting a tender and taking reasonable marketing steps despite lack of access, so sale price was not unreasonable; summary judgment for BNZ was therefore upheld and the appeal dismissed.