17 Apr 2023
MARYLAND BASSETT COMPANY LTD v TAIHE INNOVATION MANAGEMENT LTD (in rec) [2023] NZHC 801
- Citation
- [2023] NZHC 801
- Court
- High Court
The Court was satisfied it was reasonably arguable that the loan agreement was part of a sham transaction and that, on the evidence including the Deed of Trust and Indemnity, it was reasonably arguable that cl 3.2 created an indemnity/cross‑demand at least equal to the statutory demand; accordingly the statutory demand was set aside under s 290(4)(a) and (b).