19 Sept 2017
WESTPAC NEW ZEALAND LIMITED v YARROW [2017] NZHC 2261
- Citation
- [2017] NZHC 2261
- Court
- High Court
Court held debtor failed to establish a reasonably arguable case that Westpac owed or breached fiduciary duties giving rise to an equitable set-off sufficient to extinguish the guaranteed liability; no credible causation or loss linkage established; the guarantee and no-set-off clauses were enforceable; balancing statutory discretionary factors (including public interest, investigatory utility and accountability) adjudication was appropriate; order adjudicating debtor bankrupt was made.