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Court of Appeal Wellington
10, 11 February; 18 March 1986
Richardson, Somers and Casey JJ
10, 11 February; 18 March 1986
Richardson, Somers and Casey JJ
Company law — Action by debenture holder against guarantor of debenture — Meaning of "payable on demand" in debenture — Demand served on limited company at registered office — Receivers appointed two hours later — Whether demand validly served and receivers validly appointed — Whether provision in guarantee providing for guarantor to pay debenture holder's costs and expenses could be taken into account in the exercise of the Judges discretion under R 568 to award solicitor/client costs — Whether debenture holder could recover costs of the litigation by way of damages — Code of Civil Procedure, RR 555 and 568.