11 Dec 2006
RICHARD GRANT SIMPSON AND RONALD WALTON AS RECEIVERS OF SERVICE FOODS MANAWATU LIMITED (IN RECEIVERSHIP AND IN LIQUIDATION) AND ANOR V NEW ZEALAND ASSOCIATED REFRIGERATED FOOD DISTRIBUTORS LIMITED CA CA36/06
- Citation
- openlaw-c9ec5a91_f113_4c97_9d77_062451d341dd.pdf
- Court
- Court of Appeal
The Court held the parties' terms of trade created a security interest; the financing statement describing collateral as 'all present and after-acquired property' did not render the registration invalid or 'seriously misleading' under s149 and therefore NZARFD perfected its security interest by registration; perfection is limited to what the security agreement actually covers (goods supplied and unpaid and their proceeds); accordingly the appeal was dismissed.