1 May 2023
PEARLFISHER TRUSTEE LIMITED v MEGA CAPITAL GROUP LIMITED [2023] NZHC 994
- Citation
- [2023] NZHC 994
- Court
- High Court
The Court found the signed offers and Facility Agreement formed binding contractual obligations such that establishment fees were payable on the earlier of drawdown or the Withdrawal of Offer Date (31 July 2022). Pearlfisher made written demand and the Facility Agreement contained an enforceable agreement to mortgage creating an equitable interest in the Property. The caveat sufficiently identified the interest. Removal would prejudice Pearlfisher's legitimate interests; accordingly the caveat must be sustained.