New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Interest recovery

Legal area

Court

25 Jun 2009

BANK OF NEW ZEALAND V SBL TAYLER AND SJE HATFIELD AS TRUSTEES OF THE WILL TRUST AND ORS HC AK CIV 2009-404-002550

Citation

openlaw-ad44e6c3_6a02_41f4_b96e_bceef986c39b.pdf
Court

High Court

The court entered judgment against the second defendant as guarantor because the plaintiff proved the advances, the guarantee, and the principal borrowers' defaults; the contractual interest at 8.45% is recoverable (not a penalty) and the plaintiff is entitled to judgment for principal plus interest and costs, with GST on costs to be deducted unless the plaintiff establishes entitlement.
22 Sept 2008

CONDON AND ORS V PARKINSON HC CHCH CIV-2007-409-000832

Citation

openlaw-e7291985_7033_4e1f_9688_740c90823af9.pdf
Court

High Court

On the balance of probabilities the $500,000 was a loan from the Mark Condon Family Trust (via Mr Condon acting as agent) to the defendant repayable on sale/settlement of the Bishopdale units; the parties intended legal relations; the Trust (as undisclosed principal) may sue; defendant breached by failing to repay by 17 November 2006; plaintiffs recover outstanding principal of $200,000 plus special damages equal to interest paid to Westpac from 17 November 2006 to 16 August 2008 ($29,462.99); valuation fee and other consequential claims rejected.