New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Receivers' costs

Legal area

Court

28 Jun 2019

HEARTLAND BANK LTD v DOMECQ [2019] NZHC 1504

Citation

[2019] NZHC 1504
Court

High Court

The defendant, having entered into the loan and guarantee documents, is liable to the contractual default interest rates and to indemnify Heartland for expenses and legal and receivers' costs; the plaintiff's calculations and invoices justified the sums claimed and summary judgment awarding contractual interest and costs was appropriate.
19 Oct 2015

TORCHLIGHT FUND NO.1 LP (IN RECEIVERSHIP) v JOHNSTONE & ORS [2015] NZHC 2559

Citation

[2015] NZHC 2559
Court

High Court

The Late Payment fee was imposed in terrorem and constituted a collateral penal stipulation that was extravagant and out of proportion to the loss likely to be caused by late repayment (limited to lender's cost of funds/interest exposure), therefore the clause was an unenforceable penalty; accordingly late payment charges were struck down but the primary facility fee and contractual interest and receivers' costs under the indemnity were recoverable.