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Court of Appeal Wellington
CA220/2011; [2012] NZCA 45
1 December 2011; 1 March 2012
Chambers J, O'Regan P and Stevens J
CA220/2011; [2012] NZCA 45
1 December 2011; 1 March 2012
Chambers J, O'Regan P and Stevens J
Commercial law — Personal property securities — Priority in claim for rental between mortgagee and holder of perfected security interest — Whether entitlement to rental under mortgage affected by competing rights under Personal Property Securities Act 1999 — Personal Property Securities Act 1999, s 23.
Company law — Receivership — Receiver appointed by subordinate chargeholder — Effect of appointment of receiver by holder of higher ranking security.
Property law — Mortgage — When rental payable to mortgagee — Whether mortgagee required to take possession before being entitled to rental.