19 Feb 2010
VISION SECURITIES LIMITED V CAPITAL + MERCHANT FINANCE LIMITED (IN RECEIVERSHIP) AND ANOR HC AK CIV-2009-404-4843
- Citation
- openlaw-b78ef7df_6f2a_4670_a449_c5bb4d646b73.pdf
- Court
- High Court
Clause 8.5 of the Trust Deed, read in context, is wide enough to catch the $250,000 received by the Receivers as proceeds relating to the subordinated indebtedness, and the Receivers did enter into a contract that could render them liable; however material factual uncertainties exist (notably whether Vision's senior indebtedness was fully paid before the Receivers received the $250,000 and the precise timing of that receipt), so neither party was entitled to summary judgment.