27 Jun 2012
PLATEAU FARMS LIMITED (IN RECEIVERSHIP AND LIQUIDATION) V ELIZABETH MARY LAMBERT HC HAM CIV-2012-419-363
- Citation
- openlaw-9d130c47_551f_403a_8a75_084ef8aadf97.pdf
- Court
- High Court
The $1 sale agreements were invalid and of no effect because the Crafar company directors did not have authority to sell assets that were subject to registered security and a receiver's mandate; the receivers' and secured parties' rights to manage and sell the farms prevail, entitling the plaintiffs to a declaration, permanent injunctions and removal of caveats.