Swann v Secureland Mortgage Investment Nominees Ltd - [1992] 2 NZLR 144

Equity — Sale of land — Purchaser's fraudulent scheme — Equitable and/or common law fraud — Similarity of relief — Mortgage given in pursuance of fraudulent scheme with priority to defrauded vendor's second mortgage — Whether first mortgage should be postponed in priority — Principles upon which relief should be granted — Whether defrauded person entitled to recovery of whole of fraudulently inflated price — Property Law Act 1952, s 60.

Property law — Mortgage — Purchaser's fraudulent scheme — Remedies of defrauded vendor — Whether first mortgage given in pursuance of fraudulent scheme should be postponed to defrauded vendor's second mortgage — Whether postponement should be on terms equitable to the vendor and to innocent parties providing funds for loan on first mortgage — Property Law Act 1952, s 60.

Contract — Sale of land — Purchaser's fraudulent scheme — Postponement of first mortgage, given in pursuance of scheme, to defrauded vendor's second mortgage — Property Law Act 1952, s 60.