Financial Services Quarterly
In the courts
When does an interest period commence for the purposes of the NZBA Deed of Priority?
The Court of Appeal considered whether, for the purposes of the NZBA standard form Deed of Priority, a "deemed" interest period of 24 months applied, or whether the interest period only commenced on the date of enforcement.
Mortgagee fails in attempt to take additional security using the power of attorney in its mortgage
This case considered whether a lender under a limited recourse loan arrangement could rely on a standard power of attorney clause in the loan agreement to take general security over all of the borrower's assets.
No common law general lien for warehousers in New Zealand
The High Court has confirmed that a general lien is not customary for warehousers in New Zealand, and cannot therefore be claimed to defeat a registered security interest.
Enquiries and information
For more information on any of the cases, articles and features in Financial Services Quarterly, please email Rachel Gowing or call on 64 9 916 8825.
Disclaimer
This publication is necessarily brief and general in nature. You should seek professional advice before taking any action in relation to the matters dealt with in this publication.
