8 Jul 2015
The written acknowledgement is clear and unambiguous and, on the factual matrix, the extrinsic evidence does not establish the alleged oral roll‑over trust arrangement; the advance was a personal loan of NZD 300,000 repayable within six months with interest as specified, so judgment for the plaintiff follows.
9 Mar 2010
There is a fairly arguable and substantial dispute whether the respondents' funds were advanced to Sage Securities as loans or were held by Sage Securities as trustee such that the statutory demand could not properly be enforced by liquidation; accordingly the statutory demand is set aside under s290(4)(a) subject to conditions requiring disclosure of actual borrowers and steps to call up and realise securities, and the court declined to refuse relief in the exercise of its residual discretion.