21 Dec 2017
D4 CASH INVESTORS LIMITED v ADVANCED CREATIVE TECHNOLOGIES LIMITED [2017] NZHC 3280
- Citation
- [2017] NZHC 3280
- Court
- High Court
The Loan Agreement was enforceable: at execution the parties intended funds could be advanced and the agreement served real commercial purposes (to regularise prior irregular use of D4 Compression funds, to facilitate future funding, and to protect ACTL's IP), which provided sufficient consideration; there was no proved collateral oral condition or estoppel deferring repayment; the assignment was valid; judgment for plaintiff of $3,216,562.31 was appropriate with contractual/default interest to be calculated.