22 Dec 2014
HANSARD v HANSARD CA512/2013 [2014] NZCA 562
- Citation
- [2014] NZCA 562
- Court
- Court of Appeal
The Court held that the agent-prepared financial statements and related conduct, knowledge imputed to the appellant as trustee, and the appellant's failure to challenge the position created a clear representation that the D & S Trust assumed the $712,795 loan; the respondents reasonably relied on that representation and suffered detriment by releasing MHP from liability and restructuring on that basis; the D & S Trust received assets and a debt equal in value to the liability and benefited from them; it is therefore unconscionable to allow denial of liability; expectation-based equitable reli…