14 Oct 2004
NATION GROUP DEVELOPMENT LTD v. THE BANK OF EAST ASIA LTD
- Citation
- NATION GROUP DEVELOPMENT LTD v. THE BANK OF EAST ASIA LTD
- Court
- Court of First Instance
- Case number
- HCA5208/2001
The plaintiff's equitable lien constituted a security over land for money within s2 CPO and therefore was a 'subsequent mortgage' within s45 CPO; the defendant, as an authorised institution holding prior all‑monies mortgages, validly tacked further advances (including the HK$4,150,000 under the 3rd mortgage) so the defendant's security ranked ahead of the plaintiff's lien; the 3rd mortgage was a continuing security and did not exclude tacking.