9 May 2016
DEBT BUYERS LIMITED v ADAMSON [2016] NZHC 932
- Citation
- [2016] NZHC 932
- Court
- High Court
Debt Buyers established on the balance of probabilities that it acquired the residual debt of $362,137.70 by assignment and therefore has standing to sue for the principal; the claim for principal is governed by Limitation Act 1950 s20(1) (12‑year rule) and is not statute‑barred, but Debt Buyers failed to prove it acquired NZGT's rights to recover contractual interest accruing after the mortgagee sale, so the claimed interest is not recoverable.