29 Jul 2009
PROPERTYFINANCE SECURITIES LIMITED HC CHCH CIV 2009-409-001336
- Citation
- openlaw-dae11b7b_c65c_4161_8134_ba4bcbc85667.pdf
- Court
- High Court
Given that there was an unrepaired default, the mortgagee was entitled to exercise the power of sale, the market had been tested by marketing and an auction that produced no bids, and a recent independent forced sale valuation fixed the price at NZD 1,275,000 (incl GST), the Court exercised its discretion under s 200(3)(d) to permit the mortgagee to become the purchaser at that forced sale price.