8 Jul 2011
RJC BLACK V ASB BANK LTD HC AK CIV-2010-404-003252
- Citation
- openlaw-76c56d01_69d6_490c_8f05_3d13c88683a4.pdf
- Court
- High Court
The bank was entitled to summary judgment: the mortgages and guarantees validly secured the indebtedness, the settlement with the Osbornes was a covenant not to sue and did not discharge co-guarantors, clause permitting allocation of enforcement proceeds authorised ASB's application of funds, the facility agreement did not limit the May 2008 unlimited guarantee (ambiguity resolved in context), and the plaintiff's claims of misrepresentation, non-disclosure and oppression were not established as matters that would defeat the bank's defences on summary judgment.