New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Sale of collateral

Legal area

Court

18 Dec 2018

MURRAY v UDC FINANCE LIMITED [2018] NZHC 3386

Citation

[2018] NZHC 3386
Court

High Court

The appeal was allowed because the High Court concluded there is an arguable defence that UDC may have failed to take reasonable care to obtain the best price reasonably obtainable under s 110 PPSA given material valuation disputes, questions about whether Turners was an appropriate sales outlet and whether a private offer for the forklift should have been accepted; accordingly summary judgment was inappropriate and the matter must be litigated in the District Court.
26 Jun 2017

DE LAGE LANDEN LTD v CRAFAR [2017] NZHC 1419

Citation

[2017] NZHC 1419
Court

High Court

The counterclaim was struck out because it disclosed no reasonably arguable cause of action: the statutory duties alleged (including s110 PPSA) applied to the secured party selling collateral and not to DLL in the pleaded circumstances; PPSA permits possession without notice and the guarantor had contracted out of notice under s107; alleged duty of care and causal links to DLL were not tenable; the defects were substantive and not curable by amendment.