10 Aug 2020
GOWER v FTG SECURITIES LIMITED [2020] NZHC 2011
- Citation
- [2020] NZHC 2011
- Court
- High Court
The Transfer Deed of 15 June 2015 did not effect a valid statutory assignment of the Tuam debts and securities and, as determined in the consolidated -1710 judgment, it also did not effect an equitable assignment; accordingly CAML retains legal and equitable title as second-ranking secured creditor under the Priority Deed, FTG has no entitlement to any receivership surplus, cross-applications are dismissed, and directions/orders follow for distribution priorities and reservation of costs.