In the journals

Sense prevails on appeal in two New Zealand insolvency cases
In this article, David Craig comments on two judgments delivered on appeal in December 2005 where the New Zealand courts have restored order in two important areas of insolvency law.

What is the test for dishonest assistance in New Zealand?
Jessica Palmer comments that a recent Privy Council decision on dishonest assistance has reinstated an objective test.

Does New Zealand recognise the Etridge principles?
This article considers whether financial institutions must follow the principles laid down by the House of Lords in Etridge in order to avoid liability where there may be undue influence, and discusses the differences between the decision of the House of Lords in Etridge and the decision of New Zealand's Court of Appeal in Wilkinson.

Guarantee to reflect the underlying facility
This article discusses a decision of the English Court of Appeal that a lender could not rely on a guarantee provided in connection with an earlier loan facility in respect of a new loan facility where the documentation had not expressly contemplated the guarantee and was not within the "original purview" of the original arrangement.

Banks' rights: the right of set-off and nominee accounts
This article discusses banks' rights at common law to apply the proceeds of a customer's account to set off the debt in another account, or to honour a demand for payment on an account that is in debit.

Fixed charges over book debts - law clarified by the House of Lords
The House of Lords has determined that a charge over book debts was a floating charge and not a fixed charge, determining that, in order for there to be a fixed charge, the account has to be operated as a blocked account controlled by the creditor.

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.