New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Right to redeem

Legal area

Court

14 Dec 2017

AFI Management Pty Limited v Lepionka & Company Investments Limited [2017] NZHC 3116

Citation

[2017] NZHC 3116
Court

High Court

Adoption of a mortgagor's sale contract under s179 constitutes an exercise of the mortgagee's power of sale; LCIL's adoption effective on 7 April 2015 (date notice received by purchasers' solicitors); LCIL did not wrongfully refuse redemption in April 2015 because mortgagor/AFI had not established ability to tender funds; LCIL breached its equitable duties by adopting the Lepionka contracts promptly and without adequate precautions (marketing, up-to-date valuations, realistic cost/time analysis) and therefore failed to take reasonable steps to secure best outcome; notwithstanding breach, it w…
28 Nov 2012

BARRY JOHN HART V ANZ NATIONAL BANK LIMITED HC AK CIV-2012-404-2583

Citation

openlaw-b8b7fb18_27b6_4ef3_bbd5_330156d81a0e.pdf
Court

High Court

The court declined to stay the possession/order preventing the Bank's sale because the applicant's prior undertaking not to seek injunctive relief was binding and, compounded by summary judgment against the applicants, meant no arguable case justified staying sale; however the court granted a limited stay of enforcement of Associate Judge Abbott's judgments until 14 December 2012 to enable the applicant to apply to the Court of Appeal for a stay, leaving the bankruptcy adjudication to the Associate Judge's discretion.