5 Dec 2014
CIT HOLDINGS LIMITED v GLOVER NO 2 LIMITED [2014] NZHC 3114
- Citation
- (2014) 16 NZCPR 85
- Court
- High Court
The caveats were retained because Glover No 2 demonstrated an arguable beneficial interest under the Waimarie JV (beyond mere entitlement to sale proceeds in relation to most properties), and CIT failed to establish on summary application that there is no equity or that removal would not prejudice legitimate interests; valuation uncertainty and sales to related parties weighed against exercising the residual discretion to remove the caveats, so the application was dismissed.