National Bank of New Zealand Ltd v Caldesia Promotions Ltd and Jenkins Roberts & Associates Ltd - [1996] 3 NZLR 467

Property law — Mortgage — Power of sale under mortgage in respect of two properties — Double claimant's responsibility to other creditors — Principle of apportionment and doctrine of marshalling — Whether marshalling applies only where double claimant can be satisfied in full under one security — Whether marshalling applies to land registered under the Land Transfer Act — Whether a mortgagee is able to consolidate first and subsequent mortgages in claiming the proceeds of sales — Land Transfer Act 1952, ss 37 and 104 — Property Law Act 1952, s 85.

Contract — Remedies — Alleged sham — Mortgagee selling two blocks of land by separate agreements to the same purchaser in respect of debts owed by the same mortgagor — Whether the party with a mortgage over one block of land can challenge the agreement in respect of the second block — Credit Contracts Act 1981, s 9.