9 Apr 2014
CREDIT SUISSE PRIVATE EQUITY LLC v ERIC MESERVE HOUGHTON [2014] NZSC 37
- Citation
- [2014] 1 NZLR 541
- Court
- Supreme Court
The Supreme Court dismissed the appeal. It held that representative proceedings under r 4.24 may encompass common and consequential individual issues (including damages) and that those represented with consent at the time of filing are treated as having the action brought on their behalf when the representative proceeding was filed; however, where the court direction for representation requires eligible persons to opt in, the action is not 'brought' on behalf of an opting person until that person opts in (no relation back), and limitation defences therefore apply from the opt‑in date for thos…