18 Apr 2013
KAI IWI TAVERN LIMITED V THE NEW ZEALAND GUARDIAN TRUST COMPANY LIMITED HC AK CIV-2010-404-6357
- Citation
- openlaw-c7dddef2_786c_4fea_88bd_8e9242e537cb.pdf
- Court
- High Court
The combined operation of s179(2)(c) and s185(1)(a)/185(2)(d) requires an adopting mortgagee to pay an agent's commission from the proceeds of sale in priority to the mortgagees; therefore NZGT lawfully paid CBRE's commission from the sale proceeds and the plaintiff's claim fails.