30 Jun 2020
WENZHOU HONGLIANG TRADING CO LIMITED v MSUT TRUSTEE LIMITED & ANOR [2020] NZHC 1492
- Citation
- [2020] NZHC 1492
- Court
- High Court
The court ordered MSM to produce transactional source documents sufficient to verify that future lot sales are arm's length and that sale proceeds are properly applied — specifically sale and purchase agreements with purchaser identity and introduction, purchaser and mortgagee settlement statements and supporting vouchers, loan and security agreements and any variations, and the solicitor's draft statement of application of settlement funds — and refused orders for post-2017 management/project accounts and for disclosure about historic Jordan transactions as irrelevant to policing the freezin…
- S 348 property law act 2007
- Freezing order ancillary disclosure
- Ordinary course of business
- Vendor finance and settlement accounting
- Relevance and proportionality of disclosure