18 Oct 2012
NAGS HEAD HORSE HOTEL LTD V FOREST TRUSTEE LTD HC AK CIV-2012-404-001739
- Citation
- openlaw-cfb1bff3_1e12_44f3_9e8a_27fb6ba690e5.pdf
- Court
- High Court
There was a serious question to be tried as to priority because the transfers and surrounding arrangements indicated the purchaser EOTL was not a bona fide arm's-length purchaser but part of transactions controlled by the Mawhinney group, so equitable rights under the rule in Otter v Vaux could bind the purchaser; the balance of convenience and interests of justice required preservation of the status quo pending the summary judgment hearing, therefore an interim injunction restraining dealings affecting mortgage 7998827.2 was granted.