3 Nov 2011
21ST CENTURY INVESTMENTS LTD V ANZ NATIONAL BANK LTD COA CA149/2011
- Citation
- COA CA149/2011
- Court
- Court of Appeal
The Court held that the bank validly exercised the acceleration clause because there were unpaid and undisputed liabilities which entitled the bank to demand immediate repayment and the time given to pay was objectively reasonable; accordingly the statutory demand was valid to the extent of the undisputed amounts and was set aside only as to amounts found to be disputed.