Re an application by Bowler [2018] NZHC 2417

Re an application by Bowler [2018] NZHC 2417

The mortgage was held on trust for the applicant and s 52(1)(b)(iv) Trustee Act 1956 authorises the Court to vest the mortgage in him; leave to commence by originating application under r 19.5 is appropriate and the mortgage B495050.3 is vested in Patrick Christopher Bowler.

Citation
[2018] NZHC 2417
Parties
Applicant: Patrick Christopher Bowler; Registered Proprietor / Brother: John Grahame Bowler; Former Trustee / Nominee Company (dissolved): Bell Gully Buddle Weir Solicitors Nominee Company Limited; Interested Party: The Treasury / Crown
Court
High Court
Jurisdiction
New Zealand
Judgment Date
13 September 2018
Procedural Posture
Application for Vesting Order Under S 52 Trustee Act 1956 / Leave Granted to Commence by Originating Application and Substantive Vesting Order Made
Outcome
Leave granted under r 19.5 High Court Rules; mortgage B495050.3 vested in Patrick Christopher Bowler
Legal Topics
Vesting Orders, Trusteeship, Deregistration of Companies, Bona Vacantia, Mortgages
Trusts Property Law Company Law Civil Procedure Vesting Orders Trusteeship Deregistration of Companies Bona Vacantia +1 more

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Parties

Patrick Christopher Bowler

Applicant

John Grahame Bowler

Registered Proprietor / Brother

Bell Gully Buddle Weir Solicitors Nominee Company Limited

Former Trustee / Nominee Company (dissolved)

The Treasury / Crown

Interested Party

Procedural Posture

Application for Vesting Order Under S 52 Trustee Act 1956 / Leave Granted to Commence by Originating Application and Substantive Vesting Order Made

Legal Issues

  1. 1 Whether leave should be granted to commence by originating application under r 19.5 High Court Rules
  2. 2 Whether s 52 Trustee Act 1956 authorises vesting of the mortgage in the applicant where the trustee company has been dissolved
  3. 3 Whether the mortgage became bona vacantia on deregistration of the nominee company or was held on trust for the applicant

Ratio Decidendi

The mortgage was held on trust for the applicant and s 52(1)(b)(iv) Trustee Act 1956 authorises the Court to vest the mortgage in him; leave to commence by originating application under r 19.5 is appropriate and the mortgage B495050.3 is vested in Patrick Christopher Bowler.

Court Disposition

Leave granted under r 19.5 High Court Rules; mortgage B495050.3 vested in Patrick Christopher Bowler

Orders

  • Leave granted for the application to be brought by way of originating application under r 19.5 High Court Rules 2016
  • Mortgage B495050.3 be vested in Patrick Christopher Bowler