18 Jun 2014
TRUCK AND TRAILER HIRE LIMITED (In Liquidation) v KNOX WHYTE FAMILY TRUST [2014] NZHC 1378
- Citation
- [2014] NZHC 1378
- Court
- High Court
On the evidence the applicant failed to show a genuine and substantial dispute as to $263,824.86 of the first demand (principal $212,000 plus interest $51,824.86) because principal repayments and allocation issues only reduced the claim by $78,000 and the signatures/agreements made interest at 15% enforceable; the second demand was only sustainable to $12,000 because $70,000 of the claimed $110,000 advances were arguably made personally by the trustee and repayments could reduce the Trust's claim to $12,000. Accordingly each statutory demand is set aside only to the extent indicated.