6 Jul 2016
RAPH ENGLE CONCEPTS LIMITED V SCL HOLDINGS LIMITED [2016] NZCA 309 [6 July 2016]
- Citation
- [2016] NZCA 309
- Court
- Court of Appeal
Clause 4 of the Terms of Engagement created a contractual obligation to pay commission when SCLILP received progress payments but did not create a trust, fiduciary duty or equitable assignment over 5.5% of those payments; therefore REC was an unsecured creditor and could not trace or claim proprietary interest in funds received by SCLILP or related companies.