Westpac New Zealand Limited v Reed

[2019] NZHC 3059

IN THE HIGH COURT OF NEW ZEALAND INVERCARGILL REGISTRY

I TE KŌTI MATUA O AOTEAROA WAIHŌPAI ROHE

CIV-2019-425-101

[2019] NZHC 3059

IN THE MATTER

of debt collection

BETWEEN

WESTPAC NEW ZEALAND LIMITED

Plaintiff

AND

GREGORY KELVIN REED and WESTERN

GOLD NOMINEES LIMITED as trustees of the Western Gold-B Trust and as trustees of

the Western Gold-N Trust First Defendants

AND

ANN-MAREE REED and WESTERN

GOLD NOMINEES LIMITED as trustees of the Western Gold-X Trust and as trustees of

the Western Gold-K Trust Second Defendants

AND

GREGORY KELVIN REED

Third Defendant

AND

ANN-MARREE REED

Fourth Defendant

Hearing:

21 November 2019

Appearances:

Ms McKenzie for Plaintiff

G K Reed in-person First and Third Defendant
A-M Reed in-person Second and Fourth Defendant

Judgment:

22 November 2019

JUDGMENT OF ASSOCIATE JUDGE LESTER

This judgment was delivered by me on 22 November 2019 at 11.00 am pursuant to Rule 11.5 of the High Court Rules

Registrar/Deputy Registrar 22 November 2019

WESTPAC NEW ZEALAND LIMITED v REED [2019] NZHC 3059 [22 November 2019]

[1]                 The plaintiff’s application for summary judgment was called in  Court on    21 November 2019. Mr and Mrs Reed appeared in person.

[2]                 Ms McKenzie appeared for Westpac New Zealand Ltd (“Westpac”) and provided Mr and Mrs Reed with a copy of the memorandum of quantum that had been prepared by her principals. Mr Reed did not take issue with the amounts set out in the memorandum dated 19 November 2019.

[3]                 Mr and Mrs Reed did not suggest that they had a defence to Westpac’s claim against the defendants under the loan agreement or under its guarantee. Without in any way seeking to minimise the significance of this judgment to the defendants, in many respects Westpac’s claim is a conventional claim based on an amount owed under loan agreements and under a guarantee. I am satisfied there is no reasonably arguable defence to the plaintiff’s claim and judgment is entered against each of the defendants in the sum of $415,886.46 which is made up as set out below:

Amount sought in statement of claim

$399,993.37

Interest on the sum of $199,859.13 at the rate of 9.85% per annum ($53.93 per day) from  28 August 2019 to 21 November 2019

(86 days)

$4,637.98

Interest on the sum of $200,134.24 at the rate of 9% per  annum  ($54.28  per  day)  from  28 August 2019 to 21 November 2019

(86 days)

$4,668.08

Costs on a solicitor and client basis and disbursements

$6,587.03

TOTAL

$415,886.46

Associate Judge Lester

Solicitors:

Anthony Harper, Christchurch

Mr and Mrs Reed in person Defendants