Re David James & Co Ltd - [1991] 1 NZLR 219

Company law — Insolvency — Leave granted to provisional liquidator to disclaim freehold properties under s 312 of the Companies Act — Effect of disclaimer — Mortgage — Application by secured creditor for order vesting in it property of company in liquidation — Interpretation of s 312 of the Companies Act — Effect of disclaimer on mortgage security — Whether mortgagee, following disclaimer, has an interest in the land entitling it to a vesting order — Companies Act 1955, s 312.