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Why loans and gifts need to be documented

Why loans and gifts need to be documented

The Court of Appeal in Chang v Lee [2017] NZCA 308 addressed the situation where a generous uncle funded 50% of the purchase price for his niece to buy a property. She took title in her own name, then denied the uncle's right to repayment saying the 'advance' was a gift. No loan agreement had been entered into between them. The Court of Appeal held that where a person makes a payment to another to buy a property, there is a presumption against a gift. Instead the property is held on trust for the funder in the share of the sum they contributed.

By Andrew Steele - 22 Aug 2017

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What is spousal maintenance and could you be entitled to it?

What is spousal maintenance and could you be entitled to it?

This week is Money Week - a great time to take stock of your financial position. Did you know that if you've separated from your partner and they're living a life of luxury while you're in struggle street, you could be eligible for spousal maintenance?

By Fiona McGeorge - 18 Aug 2017

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Unreasonable costs won't wash

Unreasonable costs won't wash

A recent High Court decision has proved that unreasonable costs by professionals won't wash with the Courts.

By Tony Johnson - 28 Jul 2017

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Freeze those assets

Freeze those assets

Insolvency law is all about recovering assets and redistributing their value to creditors in an order pre-determined by the laws of equity, secured creditor rights and priority rights of unsecured creditors. It is all very well getting a judgment against a creditor, but the real question is, does that judgment result in the return to the company of an asset or money equivalent i.e. it's all about the money.

By Tony Johnson - 21 Jul 2017

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Personal bankruptcy: is it possible to not lose everything?

Personal bankruptcy: is it possible to not lose everything?

Generally, upon bankruptcy, everything you own vests in the Official Assignee. The recent High Court decision in Hargraves re-affirmed however that there are important exceptions.

By Tony Johnson - 14 Jul 2017

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Liquidators and Ponzi Schemes

Liquidators and Ponzi Schemes

A recent Court decision has raised further warnings to investors in Ponzi schemes. The advice is clear: if you invest in a Ponzi scheme, there is every likelihood you will lose your money.

By Tony Johnson - 7 Jul 2017

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Summary judgment as the defendant

Summary judgment as the defendant

Legal proceedings are time consuming and expensive. This can be seen to be a waste of resources if you are a defendant facing hollow claims.

By Alden Ho - 28 Jun 2017

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Fixed term employment not an easy fix

Fixed term employment not an easy fix

Fixed term employment agreements have been around for a while now. However, people are still unsure about rules around them. Sometimes employers think a fixed term employment agreement might be a good way to test someone's suitability.  Or they may be unsure about whether they need someone long term and want the flexibility of renewing a contract only if required.

By Kiren Narayanan - 12 May 2017

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Construction Contracts Act may hold solutions for builders' slow paying clients

Construction Contracts Act may hold solutions for builders' slow paying clients

Could payment claims help you in your projects? If you're a builder seeking payment from a tardy client, the Construction Contracts Act 2002 has provisions that could help. We set out the steps below:

By Geoff Hardy - 3 May 2017

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Good fences make good neighbours

Good fences make good neighbours

Do you know your rights under the Fencing Act? The Fencing Act covers a multitude of possible scenarios, including the commonly asked question of who should pay for a shared fence.

By Alden Ho - 27 Mar 2017

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