23 Jan 2009
DAVIES & CO SOLICITORS NOMINEE COMPANY LIMITED V CRAWFORD AND ANOR HC AK CIV 2007-404-7999
- Citation
- openlaw-0cd0fca2_8c71_41af_9d35_1e7d7b9abedc.pdf
- Court
- High Court
The plaintiff was entitled to summary judgment because it had not exercised the power of sale and so owed no statutory duty under s103A PLA for the second mortgagee's sale; there was insufficient evidence of equitable bad faith or collusion by the plaintiff to found an arguable defence; while it was arguable that the transactions might be oppressive under s118 CCCFA, any reopening would be confined to challengeable fees (not contractual interest), therefore the principal is reduced by agreed fees, credit is given for the Ruawai sale proceeds, contractual interest at 19.5% applies to the resul…