3 May 2005
THE PROPRIETORS OF MATAURI X INC V BRIDGECORP FINANCE LTD CA CA8/04
- Citation
- openlaw-ff9f9ba9_f905_42e9_9a73_406996c8a799.pdf
- Court
- Court of Appeal
The Court allowed the appeal, holding that s358A of the Te Ture Whenua Maori Act 1993 preserved Matauri X's original objects and thereby restricted the general competency in s253 so that borrowing and mortgaging to fund the off‑site Eternal Springs investment was ultra vires; Fisher J's contrary conclusion was per incuriam for failure to consider s358A; the matter is remitted to the High Court to determine outstanding issues (indoor management/statutory non‑inquiry, effect of Land Transfer Act registration, and money had and received).