28 May 2010
CROWN MONEY CORPORATION LIMITED V MH HERTZKE AND MM HERTZKE AND ANOR HC AK CIV-2007-404-004943
- Citation
- openlaw-76a26451_307e_4342_b5a1_9868c383e78c.pdf
- Court
- High Court
On the objective assessment of the documentary and oral evidence (timing of term loan agreements, sums and dates of payments, the Amber Place development funding need, and Fastlane's effective cessation of trading), the Court concluded the contested advances were made to the trustees for the trust's development purpose and therefore are secured by the mortgage; contractual interest properly demanded gives rise to an additional entitlement, and accordingly the balance of sale proceeds remains subject to the mortgage and must be paid to Mrs Jutta Hertzke.