12 Jun 2012
THE OFFICIAL ASSIGNEE V PAVAN HC WN CIV-2012-485-000240
- Citation
- openlaw-f1765efa_0e52_463f_ac92_b8331bcbbbea.pdf
- Court
- High Court
The court construed the loan and guarantee documentation objectively and held that the second Basecorp loan and its guarantee created registrable security in the guarantors' personal land only for obligations under that specific Basecorp contract; the guarantee did not extend to secure the separate Guardian Trust loan assigned later to Basecorp, so Basecorp's enforceable security against 2 Cortina Avenue is limited to the balance of the second Basecorp loan (approximately $5,476.12 as at 30 April 2012), and Basecorp had no valid security over 5 Neville Street, 86 Woodland Road or the earthmov…