5 Dec 2016
ANZ BANK NEW ZEALAND LIMITED v JOE [2016] NZHC 2925
- Citation
- [2016] NZHC 2925
- Court
- High Court
The Bank demonstrated valid assignment of Origin's loan rights, showed enforceable acceleration provisions in the loan documents and memoranda of mortgage, and established that the s119 notices operated as contractual call-ups under Koroniadis; the borrowers defaulted, the sales produced a shortfall, the guarantors failed to pay after demand, no defence was filed, and accordingly summary judgment was entered for the Bank for the claimed shortfall plus interest and costs.