16 Aug 2016
MERCEDES-BENZ FINANCIAL SERVICES NEW ZEALAND LIMITED v CONWAY [2016] NZHC 1896
- Citation
- [2016] NZHC 1896
- Court
- High Court
The court found MBFS owned the vehicles on a dealer floor plan and the consumer credit agreements expressly reserved legal and beneficial ownership to MBFS until full payment; title therefore never passed to the defendant, the Property Law Act mortgage regime did not apply, MBFS validly used the CRA (and alternatively PPSA) procedures to repossess and sell, and MBFS was entitled to judgment for the outstanding balances.