29 Nov 2007
STIASSNY AND GIBSON AS RECEIVERS OF CHEQUER PACKAGING LTD (IN RECEIVERSHIP) V THE NORTH SHORE CITY COUNCIL HC AK CIV 2007-404-002047
- Citation
- openlaw-b2994382_4471_4e17_afe5_723b0ee6f6ee.pdf
- Court
- High Court
The contract and agreed invoicing system made CPL the principal in the retail sales and a debtor to Council for the fee component; CPL did not hold the fees on trust as agent for Council because there was no express or implied obligation to account as trustee or to keep funds separate; accordingly Council had no proprietary interest in the proceeds; alternatively, if any proprietary interest existed it would be a security interest under the PPSA and ANZ's registered security would have priority.