24 Jul 2020
ANZ BANK NEW ZEALAND LIMITED v BUSHLINE TRUSTEES LIMITED [2020] NZSC 71
- Citation
- [2020] 1 NZLR 145
- Court
- Supreme Court
On the balance of probabilities there was no representation or contractual undertaking by ANZ to fix the 0.7% margin for five years; the Court of Appeal erred in reversing the High Court's factual finding because the totality of the evidence (absence of corroborating ASB offer, late pleading of five-year claim, lack of knowledge by trustees, contemporaneous notes and witness evidence) did not establish the alleged five-year commitment. Appeal allowed and High Court decision restored.