Strategic wins $2.4m ruling against Henderson

Justice Christine French said Henderson didn't have a "tenable defence" as to whether he personally guaranteed the loan, according to the August 16 judgement from the High Court in Christchurch.

Henderson had argued that there was no gain for him in helping his friend Duff, by buying the Havelock North site to avert a mortgagee sale of the property. 

"What Mr Henderson does say is that everyone knew there was no personal benefit to him, but that is a very different thing from contending there was an express promise to the effect no personal guarantee was required," Justice French said.

"There was no commercial or legal purpose for requiring a guarantee from Mr Henderson, other than to ensure he had personal liability to Strategic."