McCloy v Manukau Institute of Technology - [2013] 3 NZLR 390

Commercial law — Personal property securities — Whether parties had security interests — Which security interest had priority — Whether BNZ first to register security interest — Whether BNZ first to take possession — Whether security interests attached — Whether security interests perfected — Personal Property Securities Act 1999, ss 41, 45, 88, 89 and 90.

Company law — Receivership — Whether receivers entitled to take possession of property — Whether receivers had power to exercise BNZ’s rights in respect of property — Whether parties had security interests — Which security interest had priority — Whether BNZ first to register security interest — Whether BNZ first to take possession — Whether security interests attached — Whether security interests perfected — Receiverships Act 1993, s 14.