New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Security sharing agreement

Legal area

Court

16 Sept 2016

STOKES v GOLD BAND FINANCE LTD [2016] NZCA 442

Citation

[2016] NZCA 442
Court

Court of Appeal

The extension of time under r 43(2) was declined because the applicants demonstrated significant unjustified delay, caused prejudice to the respondent, and the appeal had been rendered nugatory by removal of caveats and settlement of the mortgagee sale; it was not in the interests of justice to revive the appeal or to permit the Court to issue what would be an advisory ruling on unargued statutory points.
15 May 2015

GIBSON AND ANOR v ROBERT BURNES TRUSTEE (2009) LTD AND ORS [2015] NZHC 1022

Citation

[2015] NZHC 1022
Court

High Court

The SSAs were not transactions in the ordinary course of NZF's business given their novelty, timing during an acute liquidity crisis, involvement of a related party, the absence of Trustee consent or required valuation/evidence, and the urgent, non-routine purpose; accordingly the SSAs could not defeat the Trustee's prior floating charge and the Trustee's interest prevails over the Hillview Trust interests.