31 Jul 2019
PVG SECURITIES TRUSTEE LTD v 100 INVESTMENTS LTD [2019] NZHC 1847
- Citation
- (2019) 20 NZCPR 280
- Court
- High Court
Section 183(4) of the Property Law Act 2007 meant that when PFSL validly assigned the insured rights in the mortgagee sale to 100 Investments, any equitable charge PVG claimed over the insurance proceeds was extinguished and the purchaser took the rights free of that subsequent encumbrance; accordingly the plaintiff's declarations were refused.