7 Aug 2012
THORN, RUSCOE, DOWNES V RFD FINANCE LIMITED HC CHCH CIV-2010-409-2807
- Citation
- openlaw-98121635_e99f_4530_b766_371ce17d9375.pdf
- Court
- High Court
The court held it had jurisdiction to grant interim relief under s171 PLA despite the PPSA; the PLA and PPSA regimes are parallel and not inconsistent in this context. On the evidence the circumstances no longer justified RFD remaining in possession because RFD had received receipts sufficient to cover its secured amounts and continued possession risked depleting assets to the detriment of Equitable. The plaintiffs had a reasonably arguable case and the balance of convenience and overall justice favoured interim relief subject to terms and undertakings (trust deposit and retention of future r…