23 Feb 2018
CIT HOLDINGS LTD (IN LIQUIDATION) v AUCKLAND WEST LEGAL SERVICES LTD, [2018] NZHC 232
- Citation
- [2018] NZHC 232
- Court
- High Court
The caveat was removed and possession ordered because although caveators had a reasonably arguable beneficial interest, the court exercised its residual discretion to remove the caveat given pressing prejudice from accruing secured interest and risk of contract cancellation by the purchaser, the absence of any realistic alternative sale on similar terms, the liquidators' undertaking to hold any surplus pending resolution of creditor disputes, and because the occupant had no legal right (lease or licence) to remain.