Spiers Group Limited t/a Spiers Finance v Jaques HC Wellington Civ-2007-485-2947

[2007] NZHC 1992

IN THE HIGH COURT OF NEW ZEALAND WELLINGTON REGISTRY

CIV-2007-485-2947

BETWEEN  SPEIRS GROUP LIMITED (TRADING AS SPEIRS FINANCE)

Plaintiff

ANDDAVID ARTHUR JAQUES & DEENA MARIE HORNE

Defendants

Hearing:         13 August 2007

Appearances: D J Anderson for Plaintiff

No Appearance for Defendants

Judgment:      13 August 2007

ORAL JUDGMENT OF ASSOCIATE JUDGE D I GENDALL

[1]      Before me is an application by the plaintiff for summary judgment against the defendants.

[2]      On  15  October  2004  the  plaintiff  finance  company  provided  a  finance advance  to  the  principal  debtor  Music  Systems  (Operations)  Limited  under  a standard Security Agreement.

[3]      The defendants guaranteed the obligations of Music Systems (Operations) Limited under the Security Agreement.  That guarantee was incorporated on page six of the Terms and Conditions of the Security Agreement which was annexed to the affidavit of Donna Marie Dalton dated 14 December 2006 filed in support of the

present application.

SPEIRS GROUP LIMITED (TRADING AS SPEIRS FINANCE) V JAQUES & ANOR HC WN CIV-2007-485-

2947  13 August 2007

[4]      The principal debtor, Music Systems (Operations) Limited, was placed into liquidation on 16 June 2006.

[5]      The plaintiff has made demand upon  the  defendants  in  their  capacity as guarantors for the outstanding balance owing under the security agreement.   This letter  of  demand  dated  6  December  2006  demanded  payment  of  the  sum  of

$272,324.62 being the amount outstanding under the security agreement at that time. [6]      No payment has been made by the defendants.

[7]      The  defendants  were  served  with  these  proceedings  and  the  summary judgment application on 19 July 2007.  They were personally served.  Appropriate affidavits of service have been filed.

[8]      No statement of defence nor opposition to the summary judgment application has been filed by or on behalf of the defendants.

[9]      I am satisfied that on the basis of the material provided by the plaintiff to the Court the defendants have no defence to the claim made against them by the plaintiffs.

[10]     Accordingly summary judgment is now granted in favour of the plaintiff against the defendants David Arthur Jaques and Deena Marie Horne as follows:

a)        For the judgment sum claimed in the plaintiff’s statement of claim –

$272,324.62;

b)Interest in accordance with s 87 Judicature Act 1908 being 7.5% per annum from 6 December 2006 to 13 August 2007 (250 days at $55.96 per day) –  $13,990.00;

c)       Costs calculated on a category 2B basis as set out in a memorandum dated 13 August 2007 provided to this Court by counsel for the plaintiff –  $4,815.00;

d)Disbursements totalling $1,986.89 as set out in the 13 August 2007 memorandum from counsel for the plaintiff.

e)        Total summary judgment amount is therefore $295,116.51

“Associate Judge D.I. Gendall”

Solicitors:          Gibson Sheat, Lower Hutt for Plaintiff