29 Oct 2021
NEW WORLD (NEW ZEALAND) LTD v ZHANG [2021] NZHC 2899
- Citation
- [2021] NZHC 2899
- Court
- High Court
The deed's terms and the contemporaneous payment of $70,000, coupled with Wang's assumption of all outgoings and the contractual allocation of benefits and liabilities in clauses 2.1–2.2, effected a transfer of the entire beneficial interest from Zhang to Wang subject to the mortgage; accordingly Zhang held only the bare legal title and had no beneficial interest at the date the charging order was registered, so the charging order could not attach to that property and its registration as to that title had to be cancelled. The PLA attack was not made out on the facts presented.