8 Jun 2015
BUILDING CHOICES LTD t/a PLACEMAKERS RICCARTON v CARPE DIEM CONTRACTING LTD (In Liquidation) [2015] NZHC 1266
- Citation
- [2015] NZHC 1266
- Court
- High Court
Clause 10 was a contractual promise to grant a registrable mortgage upon request following an event of default and did not create an equitable mortgage or proprietary interest prior to any request; consequently PlaceMakers had no immediately arguable estate or interest in the land to support the caveat and the application to prevent lapse of the caveat was dismissed; PlaceMakers could not rely on the later general security agreement because it was not cited in the caveat and did not exist when the caveat was lodged.