14 Feb 2006
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 Appeal
- Case number
- CACV359/2004
For the purposes of s.45 CPO a purchaser's lien is a "mortgage" because it is a security over land for securing money and therefore can be a "subsequent mortgage," and the 2000 advance satisfied s.45(1) (the Bank was an authorised institution, the prior mortgage secured all moneys and the Further Charge expressly attached the advance to the prior mortgage), so the Bank was entitled to tack the 2000 advance; the appeal is dismissed.