30 Nov 2010
SOUTH CANTERBURY FINANCE LTD V HUKA LTD AND ORS HC AK CIV-2010-404-004947
- Citation
- openlaw-d6c7a244_1401_4449_8632_87d0b18cf081.pdf
- Court
- High Court
The December 2009 discussions did not create a binding contract releasing defendants from liability; the plaintiff was entitled to amend pleadings; clause 15.9 of the loan agreement precluded the defendants' estoppel argument based on delay and course of dealing; acceleration under the February 2010 agreement could not be relied on without a s119 notice but plaintiff confined its claim to amounts due under the 2007 agreement; therefore there was no arguable defence to repayment of $8,528,743.28 and summary judgment was granted for that sum with interest and solicitor-client costs.