17 Oct 2013
RAMSEY and RAMSEY v MERCER [2013] NZHC 2659
- Citation
- [2013] NZHC 2659
- Court
- High Court
The November 2008 agreement was a temporary bridging arrangement not intended to lock plaintiffs in indefinitely; after prolonged delay (over five years) in realising the Okaihau property and having regard to the allocation of risk, the defendant had no arguable defence to the plaintiffs' s339 claim and summary judgment was appropriate to order sale of the Coopers Beach property and direct that proceeds repay the plaintiffs' $220,000 loan in priority to division by share.