16 Oct 2017
BUSHLINE TRUSTEES LTD v ANZ BANK NZ LIMITED [2017] NZHC 2520
- Citation
- [2017] NZHC 2520
- Court
- High Court
Claims dismissed: the court found no binding agreement to fix margins at 0.70% for five years; the Bank made misleading statements comparing swaps to fixed loans but did not fraudulently conceal facts; crucially the swap and loan written terms (no‑reliance/entire agreement clauses) combined with solicitor's certificates of independent advice severed the proximity and reliance necessary for tort and contractual remedies and broke causation; most FTA claims were time‑barred and the CCCFA/oppression claim failed on the facts and objective commercial standards.