23 Jan 2019
WATHERSTON v PGW RURAL CAPITAL LIMITED [2019] NZHC 22
- Citation
- [2019] NZHC 22
- Court
- High Court
The court held s125 runs from the due date for performance of the last obligation required to be performed under the credit contract (or from an earlier date of termination where the contract was terminated), 'termination' meaning cancellation of the contract rather than later satisfaction of residual obligations; here demand and notice of enforcement dated 6 May 2013 brought the contracts to an end for limitation purposes and the one-year limitation expired by 6 May 2014, so the Part 5 CCCFA claims filed in 2018 were statute-barred and were struck out.