10 Dec 2013
TSB BANK LIMITED v BURGESS [2013] NZHC 3291
- Citation
- [2013] NZHC 3291
- Court
- High Court
The s119 notice was valid because it adequately informed the mortgagor and any approximations did not cause material prejudice; the interest claim to date of payment was permissible given daily interest was stated and no prejudice; the loans were payable on demand so no acceleration notice was required; the bank conducted a proper sale and obtained a reasonable price; the Third Schedule was incorporated by reference; accordingly the bank was entitled to judgment for the shortfall and contractual indemnity costs.