Official Assignee v Provident Life Assurance Company Limited - [1962] NZLR 166

Bankruptcy and insolvency — Property passing — Bankrupt's motor car subject to illegal and void instrument by way of security — Repossessed and sold by grantee after adjudication — Whether Official Assignee entitled to recover possession or value — Bankruptcy Act 1908, s. 61.

Chattels transfer — Instrument by way of security — Instrument over motor car to secure loan — Loan of full amount of purchase price of car — Granted by an insurance company — Practice of company to invest surplus funds on various types of security — Whether a "lender" — Whether instrument illegal and void — Effect of illegality — Hire Purchase and Credit Sales Stabilisation Regulations 1957 (S.R. 1957/170), Regs. 2, 6, 8.