Josali Trust Limited v Spencer

[2023] NZHC 3608

IN THE HIGH COURT OF NEW ZEALAND AUCKLAND REGISTRY

I TE KŌTI MATUA O AOTEAROA TĀMAKI MAKAURAU ROHE

CIV-2023-404-000562

[2023] NZHC 3608

BETWEEN

JOSALI TRUST LIMITED and PINGAO

TRUSTEE 508 LIMITED as trustees of JOSALI TRUST

Plaintiff

AND

JONATHAN LINDSAY SPENCER

First Defendant

STEVEN JOHN DOUGLAS HAWKINS

Second Defendant

Hearing:

On the papers

Appearances:

J W McDougall for the Plaintiff

M Lenihan for the First and Second Defendants

Judgment:

11 December 2023

JUDGMENT OF ASSOCIATE JUDGE GARDINER

This judgment was delivered by me on 11 December 2023 at 4.00 p.m. pursuant to Rule 11.5 of the High Court Rules.

Registrar/Deputy Registrar

Date.......................................

Solicitors:

AJO Legal Ltd, Auckland Holland Beckett, Auckland

M Lenihan, Auckland

JOSALI TRUST LTD v SPENCER [2023] NZHC 3608 [11 December 2023]

[1]    The plaintiff, Josali Trust Limited and Pingao Trustee 508 Limited as trustees of the Josali Trust, applies for summary judgment of its statement of claim dated

21 March 2023 against the first defendant, Jonathan Spencer, and the second defendant, Steven Hawkins. The plaintiff claims that the first and second defendants are in default of their obligations under a Deed of Settlement dated 30 June 2016 and a Deed of Debt, in that they have not repaid the debt to the plaintiff.

[2]    The application for summary judgment was determined with the consent of the parties.

Orders

[3]By consent, I order:

(a)judgment is entered against the first and second defendants in the sum of $650,000;

(b)the first and second defendants will pay interest on the sum of $650,000 at the contractual rate of 10% per annum pursuant to section 22 of the Interest on Money Claims Act 2016 for the period 1 August 2019 until the date of judgment;

(c)the first and second defendants will pay interest on the sum of $650,000 at the interest rate prescribed by section 12 of the Interest on Money Claims Act 2016 from the date of judgment until the date of payment, pursuant to section 10 of the Interest on Money Claims Act 2016;

(d)the first and second defendants will pay costs and disbursements on a 2B basis in the sum of $19,284.80; and

(e)this judgment is to lie in Court until 5.00 pm on 31 March 2024.

Associate Judge Gardiner