New Zealand Case Law: Decisions & Judgments

Topic

Bank guarantee

Legal area

Court

16 Jul 2019

WATER OUR WORLD HOLDINGS LTD v PACIFIC EAGLE CAPITAL [2019] NZHC 1645

Citation

[2019] NZHC 1645
Court

High Court

The Court found there was a sufficient evidential basis for the plaintiff's fraud allegations such that indemnity or increased costs were not justified; accordingly costs were awarded on a 2B basis, but because Mr Ohna indisputably controlled and funded the litigation a non-party costs order was appropriate, resulting in an order that the plaintiff and Mr Bernt Eagle Ohna pay $8,474 plus disbursements to the defendant, jointly and severally.
29 Jun 2015

CALVERT and ANOR v REYNOLDS [2015] NZHC 1469

Citation

[2015] NZHC 1469
Court

High Court

A stay of enforcement of the High Court judgment dated 9 March 2015 was granted because the applicants provided satisfactory security in the form of an ANZ bank guarantee for $1,150,000 which covers the judgment sum, interest and costs; the stay is extended to the completion of the appeal process (including any Supreme Court appeal) with leave reserved to the respondent to seek review if circumstances change; no requirement to fast-track was imposed and costs were to lie where they fall.
26 Feb 2015

DOXCON PHARMACEUTICALS LTD v TASMANDAIRY LTD [2015] NZHC 350

Citation

[2015] NZHC 350
Court

High Court

Doxcon raised a serious question to be tried on the core factual disputes (treatment of the $207,000 and whether first-year rent was half the contract rent), the balance of convenience favoured Doxcon because denial of access would cause significant and likely irreparable business harm and Doxcon gave an undertaking as to damages; accordingly interim relief restoring possession and restraining Tasmandairy from acting inconsistently with the lease was granted for a limited period pending a substantive hearing.
22 Jun 2012

DIVER V LOKTRONIC INDUSTRIES LIMITED COA CA258/2011

Citation

COA CA258/2011
Court

Court of Appeal

Pursuant to r30(2) the Court had power to stay execution of its costs order and to grant interim relief directing the High Court not to dismiss Loktronic's bankruptcy proceeding and not to release Assa Abloy's bank guarantee; the balance of convenience favoured Loktronic and the appellants' security for costs must not be paid out while the stay remains in force.

New Zealand Case Law

WATER OUR WORLD HOLDINGS LTD v PACIFIC EAGLE CAPITAL [2019] NZHC 1645

CALVERT and ANOR v REYNOLDS [2015] NZHC 1469

DOXCON PHARMACEUTICALS LTD v TASMANDAIRY LTD [2015] NZHC 350

DIVER V LOKTRONIC INDUSTRIES LIMITED COA CA258/2011