22 Dec 2005
AGNEW AND WALLER AND ANOR V PARDINGTON AND JARROLD AND ANOR CA CA109/05
- Citation
- openlaw-147cc014_c081_4313_910f_395c27888837.pdf
- Court
- Court of Appeal
Section 30A should be interpreted as limited to ensuring that purchasers take clear title and that subordinate security interests are extinguished only insofar as they affect the purchaser's rights in future proceeds in the purchaser's hands; it does not extinguish subordinate secured creditors' entitlement to priority in any surplus held or realised by the receiver, so subordinate secured creditors retain priority to such surplus; High Court order holding otherwise was set aside.