Summary judgment — failing to obtain best reasonable price — Krukziener v Hanover Finance Ltd [2008] NZCA 187 — Silven Properties Ltd v Royal Bank of Scotland PLC [2004] 1 WLR 997 — Personal Property Securities Act 1999, s 110 — Property Law Act 2007, s 176 — District Courts Rules 2014, r 12.2. The plaintiff sought summary judgment against the defendant as the guarantor of money used by his company to buy a loader, that his company later defaulted on repaying. The plaintiff lent the company $283,522.36 to make the purchase of a loader in April 2013. The company began defaulting in June 2015 and the plaintiff took possession of the loader in September 2016, later giving notice of the plaintiff's intention to sell it. The plaintiff sought advice from the company that sold the loader originally to the defendant and they assessed its value "as is" at $50,000 but with missing parts replaced, would be valued up to $140,000. It was ultimately sold for approximately $65,000 + GST which the defendant argued was not the best reasonable price. The Judge granted summary judgment to the plaintiff on three grounds. First, the plaintiff failed to contradict evidence regarding the poor condition of the loader, accounting for its value. Second, the plaintiff was under no obligation to spend money repairing the loader to put it in a better condition. Third, the time taken to repair the loader could delay the sale past the season that is deemed best to sell loaders. For those reasons, the defendant had no arguable defence and was ordered to pay the sum of $73,159.85, plus interest and costs on a 2B basis. Judgment Date: 24 July 2018.