16 May 2016
ASB BANK LIMITED v CARNEY [2016] NZHC 992
- Citation
- [2016] NZHC 992
- Court
- High Court
The Court of Appeal decision in Koroniadis is directly applicable: a s 119 notice that specifies acceleration under s 120(1)(d)(i) is sufficient to trigger a contractual call‑up acceleration clause; accordingly ASB validly accelerated the loan, the defendants had no defence to the claim for the sale shortfall, and summary judgment was appropriate awarding the shortfall, interest at 22.50% p.a. from 24 May 2013, and full solicitor‑client costs.