A recent High Court judgment could create “massive uncertainty” for New Zealand businesses and the finance sector in particular, a commercial law expert has warned.

The liquidator at the helm of Lombard’s Tasman Mortgages is waiting to meet lawyers for Blue Chip investors before he decides whether to permit their class action to proceed.

Waterstone Insolvency liquidator Steven Khov says he knows of at least two class actions taken by Blue Chip investors that Tasman has been roped into as secondary parties.

Waterstone has the power to make a call on whether the cases can proceed against Tasman, although the investors can also seek permission to continue from the courts.