Blog

Do you have the authority to execute a mortgage?

It is not uncommon for credit application forms to include a clause that charges in favour of the creditor all property held by the debtor. This is typically accompanied with a clause whereby the debtor appoints the creditor as its attorney for the purposes of executing a mortgage over the charged property (if the debtor does not do so).

By Tony Johnson Kay Keam and Alden Ho - 25 Aug 2017

Why loans and gifts need to be documented

The Court of Appeal in Chang v Lee [2017] NZCA 308 addressed the situation where a generous uncle funded 50% of the purchase price for his niece to buy a property. She took title in her own name, then denied the uncle's right to repayment saying the 'advance' was a gift. No loan agreement had been entered into between them. The Court of Appeal held that where a person makes a payment to another to buy a property, there is a presumption against a gift. Instead the property is held on trust for the funder in the share of the sum they contributed.

By Andrew Steele - 22 Aug 2017

What is spousal maintenance and could you be entitled to it?

This week is Money Week - a great time to take stock of your financial position. Did you know that if you've separated from your partner and they're living a life of luxury while you're in struggle street, you could be eligible for spousal maintenance?

By Fiona McGeorge - 18 Aug 2017

Unreasonable costs won't wash

A recent High Court decision has proved that unreasonable costs by professionals won't wash with the Courts.

By Tony Johnson - 28 Jul 2017

Freeze those assets

Insolvency law is all about recovering assets and redistributing their value to creditors in an order pre-determined by the laws of equity, secured creditor rights and priority rights of unsecured creditors. It is all very well getting a judgment against a creditor, but the real question is, does that judgment result in the return to the company of an asset or money equivalent i.e. it's all about the money.

By Tony Johnson - 21 Jul 2017

Personal bankruptcy: is it possible to not lose everything?

Generally, upon bankruptcy, everything you own vests in the Official Assignee. The recent High Court decision in Hargraves re-affirmed however that there are important exceptions.

By Tony Johnson - 14 Jul 2017

Liquidators and Ponzi Schemes

A recent Court decision has raised further warnings to investors in Ponzi schemes. The advice is clear: if you invest in a Ponzi scheme, there is every likelihood you will lose your money.

By Tony Johnson - 7 Jul 2017

Summary judgment as the defendant

Legal proceedings are time consuming and expensive. This can be seen to be a waste of resources if you are a defendant facing hollow claims.

By Alden Ho - 28 Jun 2017

Fixed term employment not an easy fix

Fixed term employment agreements have been around for a while now. However, people are still unsure about rules around them. Sometimes employers think a fixed term employment agreement might be a good way to test someone's suitability.  Or they may be unsure about whether they need someone long term and want the flexibility of renewing a contract only if required.

By Kiren Narayanan - 12 May 2017

Construction Contracts Act may hold solutions for builders' slow paying clients

Could payment claims help you in your projects? If you're a builder seeking payment from a tardy client, the Construction Contracts Act 2002 has provisions that could help. We set out the steps below:

By Geoff Hardy - 3 May 2017