8 Oct 2020
NORTHLAND REGIONAL COUNCIL v GILL [2020] NZHC 2639
- Citation
- [2020] NZHC 2639
- Court
- High Court
Clause 11 of the Term Loan unequivocally deemed the guarantors principal debtors and expressly preserved their liability against any act, omission or variation (including changes to Transaction Documents); the Deed of Priority formed part of the agreed Security and a condition precedent to the Facility so did not discharge the guarantors, and in any event clause 11.5 would have preserved liability even if the Deed constituted a variation; signatures were properly witnessed and lack of independent advice did not invalidate the guarantees, therefore the guarantors had no real defence and summar…