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They wrote up a loan agreement that stated the sum and all interest and costs would be paid on or before August 2016. That was later extended to a date in late 2018.
Andrew repaid $200,000, but made no further payment. Early last year James successfully sought summary judgment of $1.2m from Andrew and Mia Bella Trustee Ltd in the High Court at Auckland.
RYAN ANDERSON/Stuff
Associate Judge Dani Gardiner heard the brothers’ dispute in the High Court at Auckland.
The High Court ruled in favour of James. Andrew appealed the decision to the Court of Appeal, which earlier this year upheld the decision and noted it would be unjust to deny James the ability to call up the full debt and bring recovery proceedings in circumstances where no payment had been made in substantial reduction of the debt by 15 October, 2018 . ....

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