New Zealand Case Law: Decisions & Judgments | LexChat

New Zealand Case Law

Substitution of debtor
  • 18 Dec 2009

    TOWERS V WILLIAMS HC AK CIV-2009-404-3191

    Citation
    openlaw-a174e6c2_62ac_4d56_8c25_2d55e6de993c.pdf
    Court
    High Court

    On the undisputed material, the MOU made the defendant the borrower and liable to repay the Advance even though the funds were paid to GNN; there is insufficient evidence to infer a variation substituting GNN as debtor and the estoppel defence fails for want of representation to the defendant, proven reliance, and specific detriment; clause 6's brief acknowledgement of trust does not, by itself, exclude ordinary personal liability of a trustee and does not raise a tenable limitation defence on summary judgment; accordingly the defendant has no substantial defence and summary judgment is appro…