6 May 2014
ADAMS AND BUCHANAN (AS LIQUIDATORS OF STARPLUS HOMES LTD (IN LIQUIDATION)) v SUN [2014] NZHC 912
- Citation
- [2014] NZHC 912
- Court
- High Court
Standard terms and memoranda of Magsons, Hamilton Hardware, United Timber and RD 1 created equitable mortgages that attached to present and after-acquired land; those equitable charges are valid and rank in time according to when they arose (Hamilton Hardware, RD 1, Magsons, United Timber), the registered second mortgage of Sun is valid but marshalling is available and should be applied because the order of sales by the senior mortgagee (ASAP) produced an arbitrary windfall to Sun; the Court directed proportional apportionment and reserved costs and precise quantification to allow submissions…