2 Oct 2012
THE HEALY HOLMBERG TRADING PARTNERSHIP V DAMIEN GRANT AND STEPHEN KHOV AS LIQUIDATORS OF LBD CIVIL LIMITED (IN LIQUIDATION) COA CA168/2011
- Citation
- COA CA168/2011
- Court
- Court of Appeal
The Partnership failed to prove the security agreements were signed before liquidation and thus failed to establish enforceable written security interests that could outrank the Riga parties; on the legal point, where competing security interests are perfected by registration the PPSA determines priority by time of registration (first to register) under s66 and s36 concerns enforceability against third parties but do not displace the s66 registration priority rule.