17 Jan 2022
LAWTON v REDEMPTECH HOLDINGS PTE LIMITED [2022] NZHC 21
- Citation
- [2022] NZHC 21
- Court
- High Court
Application dismissed because: (1) RESP loan principal was not payable (repayment contingent on PLG funding) and interest was not due or accruing absent a demand, so interest could not be charged; (2) RTL had earlier validly demanded repayment of USD34m creating a present right of set-off that extinguished or took priority over any receivables or monthly income payable to RHL, preventing effective charging; (3) the security registration relied on concerned RTL's interest not RHL's and did not constitute a breach attracting directors' personal liability; and (4) directors' alleged loan indebte…