In the courts

Undue influence clarified in the context of family guarantors
The High Court has revisited the authorities on undue influence and held in this case that there was not sufficient evidence to grant summary judgment.

Supply on retention of title terms - can an overly broad financing statement be seriously misleading?
The High Court has considered whether or not a supplier had a perfected purchase money security interest in respect of goods supplied on retention of title terms.

Covenantors can be sued as principal debtors
This case considered whether a mortgage signed by a covenantor binds that covenantor as principal debtor, and whether a material change in the underlying transaction can release a guarantor from liability.

What constitutes commercial sense and not "financial assistance" by a company to facilitate the sale of its shares?
A recent English case provides an example of where a credit and security arrangement that discharges a purchaser's liabilities does not constitute financial assistance by the company for the purchase of its shares.

Court approves Matauri-X loan repayment
The Maori Land Court has made an order allowing Matauri-X to refinance and repay its outstanding loan.

Enquiries and information

For more information on any of the cases, articles and features in Financial Services Quarterly, please email Rachel Gowing or call on 64 9 916 8825.