26 May 2016
CARDNO (NZ) LIMITED v GLW GROUP LIMITED [2016] NZHC 1124
- Citation
- [2016] NZHC 1124
- Court
- High Court
The court held that the $24,902.39 actually paid to Cardno by the Lepionka mortgagee discharged Cardno's claim to that portion and Cardno was no longer a creditor in respect of that sum; the remaining $24,902.39 had not been advanced or paid and remained a debt due by GLW at the time of the statutory demand; equitable assignment or mortgagee promises did not, on the evidence, deprive Cardno of creditor status because GLW had no notice and Cardno retained the right to pursue GLW; accordingly the statutory demand was sufficient and the liquidation claim was dismissed but the monies held were to…