2 Feb 2012
BRICKWORKS BUILDING PRODUCTS (NZ) PTY LIMITED V COMMERCIAL FACTORS LIMITED HC AK CIV-2011-404-2249
- Citation
- openlaw-10a32268_a02b_4eea_b4ee_33b0408ff396.pdf
- Court
- High Court
The Court found CFL had not proven a valid statutory assignment to which Brickworks had actual written notice before the yard agreement; accordingly CFL could not rely unchallenged on creditor status and the statutory demand was vulnerable. Brickworks established genuine, substantial disputes over approximately $20,014.60 of the claimed $40,234.66 and had arguable equitable set-offs (rent/outgoings and immediate losses from repudiation) arising from the same contract. On that basis and having exercised its discretion as to just and equitable grounds, the Court set aside the statutory demand a…