28 Jun 2017
CLEAR WHITE INVESTMENTS LTD v OTIS TRUSTEE LTD [2017] NZHC 1458
- Citation
- [2017] NZHC 1458
- Court
- High Court
The court found on the evidence that no concluded common‑intention financing or buy‑back agreement existed; the July 2016 transaction was an outright sale to Otis for consideration of $1,811,463.78, not a loan secured by a transfer of title; CWIL failed to prove facts necessary to establish a constructive trust, estoppel or a CCCF Act credit contract; Chevin lacked credibility and had misled parties about consultants' fees and contamination; accordingly plaintiff's claims were dismissed.