23 Mar 2018
AS BASE LTD v IMI DEVELOPMENTS LTD & ORS [2018] NZHC 511
- Citation
- [2018] NZHC 511
- Court
- High Court
The Court refused defendants' application for leave to file a late statement of defence because the defendants failed to establish justice required relief from non‑compliance with the 'unless' order; the plaintiffs proved the IMI, KVM and Matangi loans on the material before the Court; interest on the KVM loan is to be calculated under the Interest on Money Claims Act 2016 methodology but capped at 5% per annum (Judicature Act rate); guarantors are jointly and severally liable and trustees who gave untrue execution warranties are personally liable; plaintiffs directed to file a recalculated r…