New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Security for sale proceeds

Legal area

Court

19 Feb 2018

PRESTON v PRESTON [2018] NZHC 185

Citation

[2018] NZHC 185
Court

High Court

The court exercised its discretion to remove the s42 PRA notice and LTA s137 caveat because the respondent's legitimate arguable financial interest could be adequately protected by transferring the caveatable interest to the replacement property (Karenza Lane) and by holding sale proceeds in the trustee's solicitor trust account pending resolution, and because removal on the terms ordered would not prejudice the respondent's interests.
28 Oct 2008

TGR HELICORP LIMITED (IN RECEIVERSHIP) AND ANOR V ROGERS AND ROGERS HC AK CIV 2008-404-004109

Citation

openlaw-f213cb2a_41c7_4869_a687_594ed3e9d5fc.pdf
Court

High Court

The court permitted the conditional release of specified Ultra items for sale only where the sale is to a buyer acceptable to the receiver and defendants and only after a specified sum (US$100,000 or other agreed sum) is paid into the joint trust account of LeeSalmonLong in the names of the first plaintiff, Ultra Helicopters Inc (NZ) Limited and the defendants to be held on interest bearing deposit pending further order; the 40 foot container was held not to be subject to the court's order and costs were reserved.