26 Sept 2013
ASB BANK LIMITED v LIN [2013] NZHC 2528
- Citation
- [2013] NZHC 2528
- Court
- High Court
Summary judgment was granted because the defendants had no real defence: they were bound by contractual exclusions of set-off; there was no legal duty requiring the bank to take a GSA and the defendants knew the bank did not intend to take one; the bank complied with s176 by engaging registered valuers and experienced agents and conducting adequate marketing and auctions; therefore the bank was entitled to judgment for the shortfall, with interest at the Judicature Act rate and costs on a 2B basis.