Murray v Morel & Co Ltd - [2006] 2 NZLR 366

Commercial law — Securities Act 1978 — Forestry investment scheme — Whether minimum amount payable for participatory securities paid to, and received by, issuer within four months after date of registered prospectus — Whether cheque to be held and “offset” against debt from partnership was “payment of money” made within time — Illegal Contracts Act 1970.

Practice and procedure — Limitation — Whether “reasonable discoverability” test was a general test to be applied to all causes of action — Whether respondents had to prove that claims were frivolous, vexatious, or an abuse of process — Whether claims in negligence and breach of trust should be struck out — Limitation Act 1950, ss 24(3) and 28.