17 Feb 2016
GRAHAM v ARENA CAPITAL LIMITED (IN LIQUIDATION) [2016] NZHC 194
- Citation
- [2016] NZHC 194
- Court
- High Court
Post-APO deposits were subject to the statutory trust and, because the FMA asset preservation orders froze the account and prevented use of subsequent deposits, those post-APO deposits remained identifiable and traceable; accordingly they have a proprietary interest enforceable in priority to other investors and the liquidators' application to treat those funds as part of Arena's general assets was declined.