Waller v New Zealand Bloodstock Ltd - [2006] 3 NZLR 629

Commercial law — Personal property securities — Competing security interests — Lease entered into prior to commencement of the Personal Property Securities Act 1999 — Leased property claimed by receiver — Collateral repossessed by lessor on default — Relevance of legal ownership of leased asset — Whether security interest perfected — Entitlement to proceeds of collateral — Personal Property Securities Act 1999, ss 16, 17, 23, 35, 36, 40, 41, 45 and 66.