In re Coote (Deceased) Coote v Public Trustee and the State Advances Corporation of New Zealand - [1939] NZLR 457

Insurance — Life — Protected Policy — Prerogatives of the Crown — Whether the State Advances Corporation of New Zealand possessed of Crown's Prerogative Right to Pre-eminent Payment of Debts — Residual Interest in Policy after Repayment of Security thereon — Whether Protection applies, subject to the Statutory Limitation, to the Full Amount of such Residual Interest — Whether the Equitable Principle of Marshalling should be applied so as to leave the Policyholder the Most Favourable Right of Selection — Mortgage Corporation of New Zealand Act, 1934–35, s 36 (1) (d) — State Advances Corporation Act, 1936, ss 3, 8, 25 (3), 36, 37, 38 — Life Insurance Act, 1908, s 65 (2), 66 (3) (4) — Life Insurance Amendment Act, 1925, ss 3, 4.