Summary judgment application — loan repayment — arguable defence. The applicant bank applied for summary judgment against the two defendants regarding a loan made by the bank to the first defendant company, which had been guaranteed by the second defendant, who was the first defendant's owner and director. The application was opposed by the defendants, with the second defendant submitting that his company had been placed into receivership and the assets had been sold at a gross undervalue. The Judge considered that this would not affect the validity of the claim by the bank and therefore the defendants had no arguable defence. The Judge allowed the application and entered summary judgment for the plaintiff. NOTE: this decision was successfully appealed in Kumar v Heartland Bank Ltd [2023] NZHC 283. Judgment Date: 10 May 2021.