29 Jul 2009
NGA URI WHAKATIPURUNGA O NGARAE (INC) V MARAC FINANCE LIMITED HC AK CIV 2008-404-006180
- Citation
- openlaw-05dafe45_a53d_4ba9_891a_ce061fc3701e.pdf
- Court
- High Court
The caveat was a nullity because the applicant was not a legal entity capable of holding the alleged beneficial interest and in any event Marac's prior registered mortgage had indefeasible priority; the proceeding as brought was hopeless and pursued despite clear warning, justifying indemnity costs and a personal costs order against the applicant's solicitor and counsel for gross negligence and breach of duty to the Court; the indemnity costs awarded totalled $9,073.25 subject to a 14‑day condition for a third party undertaking.