30 May 2006
WORLDWIDE NZAND ANOR V QPAM LTD AND ORS HC AK CIV.2006-404-1827
- Citation
- openlaw-f3f7c961_3c21_4c7d_92bc_5ce4eb265057.pdf
- Court
- High Court
The receiver's appointment constituted a Change in Control under the Unit Trust Deed and thereby effected a deemed disposal of Worldwide NZ's B units; Jacobsen Venue Management's acceptance on 26 April 2006 transferred at least the equitable (beneficial) interest in those B units and the corresponding beneficial interest in the linked B shares (subject to payment of a fair price), no estoppel prevented the exercise of those pre-emptive rights, and on balance of convenience and justice the plaintiffs were not entitled to the interim injunctions sought