27 Oct 2005
NEW ZEALAND BLOODSTOCK LTD & ANOR V WALLER & AGNEW & ANOR CA CA269/04
- Citation
- openlaw-f712154a_6abe_4dd9_91dd_82977ea47cc9.pdf
- Court
- Court of Appeal
Majority held that for PPSA priority purposes a lease for more than one year can constitute a security interest; Glenmorgan acquired statutory 'rights in goods' and Lock's debenture (covering present and future assets) and registration on 1 May 2002 perfected a security interest that attached to the stallion; a perfected security interest therefore took priority over New Zealand Bloodstock's unperfected retained title, so summary judgment for Lock as to possession was upheld and the appeal and cross-appeal were dismissed.