5 Aug 2010
TUBBS AND GOWER V RUBY 2005 LIMITED CA CA121/2010
- Citation
- openlaw-0ba44fad_3645_46ee_80c2_52635397610c.pdf
- Court
- Court of Appeal
The Court held s17 was not engaged because Ruby owned the timber and the 2005–2008 transactions were bona fide sales in the ordinary course of Waimate's business protected by PPSA s53; however the October 2009 transactions were arguably outside the ordinary course (being effectively satisfaction of intercompany claims or accounting for conversion) and therefore the appeal was allowed in respect of the 2009 transactions, an interlocutory injunction was granted to preserve proceeds, and the matter was remitted to the High Court.