21 Nov 2011
MAIN FARM LIMITED (IN RECEIVERSHIP) V OTAGO REGIONAL COUNCIL HC DUN CIV-2010-412-000385
- Citation
- openlaw-d0438baf_7f72_4180_b195_ab3cb77d1779.pdf
- Court
- High Court
The Court held that Main Farm purchased the vendor's interest in the pending replacement water consent as part of the June 2000 sale; Mr Carr, having represented and dealt with that interest, holds the legal title to the replacement consent on trust for Main Farm and must execute the transfer. Differences in condition between the expired permit and the replacement consent were not material to beneficial ownership, and delay by Main Farm and the receivers did not constitute laches or prejudice sufficient to defeat Main Farm's equitable proprietary claim.