19 May 2016
E-TRANS INTERNATIONAL FINANCE LTD v KIWIBANK LTD [2016] NZHC 1031
- Citation
- [2016] NZHC 1031
- Court
- High Court
Clause 7 unambiguously permitted Kiwibank to terminate on 14 days' notice and no sufficient factual or legal basis existed to imply a limiting term from the Code of Banking Practice; a termination on contractual notice is not in itself an anti-competitive provision under s27 and the deeming provisions do not convert a general termination right into an unlawful provision; the AML/CFT Act does not create a private law duty enforceable by E-Trans to prevent Kiwibank's policy decision to off-board money remitters; and any Fair Trading Act claim failed for lack of causal nexus; accordingly judgmen…