28 Jul 2017
ZHANG v ZHZ CORPORATE TRUSTEE LIMITED & CAO [2017] NZHC 1769
- Citation
- [2017] NZHC 1769
- Court
- High Court
The High Court upheld the District Court's findings on credibility and liability: Mr Zhang is liable for admitted small loans of NZ$23,000; ZHZ and Mr Zhang failed to establish any legally effective set-off arising from a purported discounted sale of Virginia Street; the October 2011 acknowledgement diverted the $100,000 obligation to Qi Zhang personally and not to ZHZ, and no contractual penalty interest was claimable; the factual finding that Mr Cao suffered loss in relation to Pleasant Way was made but recovery is reserved pending further inquiry into the commercial purpose and provenance…