In the journals

The PPSA and the common law
This article explores areas in which Canadian cases have relied on common law principles to supplement or interpret the relevant personal property securities legislation, and considers the relevance of those decisions in New Zealand.

Security over book debts in England
A recent test case in the English courts has considered the requirements for a bank taking security over book debts. Two articles on the case consider, firstly, the question of whether separate security can be taken over book debts and their proceeds and, secondly, the consequences of the House of Lords decision that the charge given over book debts and their proceeds was a floating charge.

Negligence liability for pure economic loss
This article discusses an English case in which a bank was found to owe a duty of care to a creditor that had obtained freezing orders over the accounts of two of the bank’s customers.

Contractual duress and the Supreme Court
The elements of the defence of contractual duress in New Zealand have recently received attention from the Court of Appeal, but in refusing leave to appeal the Supreme Court has left some confusion as to the correct principles applying in this area.

Finance and factoring
This special feature examines the business of factoring and discounting debts in New Zealand.

Impending securities and money-laundering reform in New Zealand
In two recent initiatives, the Government has signalled impending law reform that will impact on the finance and securities sector.

Banks count the cost of money laundering
KPMG has reported on banks’ increased spending on anti-money laundering systems.

CCCFA might affect residential sale and purchase
This article considers that a residential sale and purchase agreement may be a "consumer credit contract" for the purposes of the Credit Contracts and Consumer Finance Act 2003 in some circumstances.

Simms revisited
The legal principles applying in Australia where a bank pays a cancelled cheque and subsequently seeks to recover the payment from the payee are analysed.

Age discrimination and bank lending
Would a New Zealand bank have a defence to an age discrimination claim by a borrower?

The reckless launderer
This article explores the offence of "reckless laundering" under the Crimes Act 1961, and the risks involved in any transaction where a large sum of cash changes hands.

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.