20 Feb 2019
FTG SECURITIES LIMITED v BANK OF NEW ZEALAND [2019] NZCA 16
- Citation
- [2019] 3 NZLR 607
- Court
- Court of Appeal
Clause 15 of the Deed of Priority required BNZ's approval of the form of any deed by which an assignee agreed to be bound; that consent was not sought or obtained so the First and Second Assignments were ineffective against BNZ and FTG lacked standing to enforce the Deed of Priority against BNZ; registration of a mortgage did not negate the contractual requirement for consent.