New Zealand Case Law: Decisions & Judgments

Topic

Chose in action

Legal area

Court

1 Nov 2021

BISCUIT CREEK FOREST LIMITED v SIMON FREDERICK VALLANCE & ANOR [2021] NZCA 577 [1 November 2021]

Citation

[2021] NZCA 577
Court

Court of Appeal

The Owner's share passed to the family trust with the land absent an express severance; the OS Agreement was entered under a common mistake about ownership and GST entitlement induced more directly by the purchaser, and the appropriate remedy was to cancel the contract under the statutory mistake provisions and restore the parties rather than to compel performance or award expectation compensation to the purchaser.
18 May 2016

ANZCO FOODS LTD v COMMISSIONER OF INLAND REVENUE [2016] NZHC 1015

Citation

[2016] NZHC 1015
Court

High Court

The settlement did not convey a separate 'right to use land' but varied and removed a restrictive encumbrance (a chose in action) thereby restoring ANZCO's inherent ownership rights; those restored rights run with the fee simple estate and do not have a finite useful life or reasonable expectation of declining value while used, so the payment was capital and not depreciable intangible property under the Income Tax Act 2007; the Commissioner's assessments are confirmed.
27 Jan 2012

THE OFFICIAL ASSIGNEE IN THE BANKRUPTCY OF BRYAN DAVID MAYERS V BRYAN DAVID MAYERS, VIVIENNE NANCY MAYERS AND CHARMAINE ANNE FIELD, AS TRUSTEES OF THE BRIAN AND VIVIENNE MAYERS FAMILY TRUST HC NEL CIV-2011-442-000461

Citation

openlaw-6b621e11_ebeb_4d60_b0dd_3f19be40971f.pdf
Court

Unknown Court

A release (forgiveness) of debt by deed does not constitute a transfer of property or an interest in property for the purposes of s 207 of the Insolvency Act 2006 because the creditor's chose in action is abrogated, not transferred to the debtor; therefore the Court lacked jurisdiction under s 207 to order retransfer or payment and the application must be dismissed.

New Zealand Case Law

BISCUIT CREEK FOREST LIMITED v SIMON FREDERICK VALLANCE & ANOR [2021] NZCA 577 [1 November 2021]

ANZCO FOODS LTD v COMMISSIONER OF INLAND REVENUE [2016] NZHC 1015

THE OFFICIAL ASSIGNEE IN THE BANKRUPTCY OF BRYAN DAVID MAYERS V BRYAN DAVID MAYERS, VIVIENNE NANCY MAYERS AND CHARMAINE ANNE FIELD, AS TRUSTEES OF THE BRIAN AND VIVIENNE MAYERS FAMILY TRUST HC NEL CIV-2011-442-000461