The Weekly Law Reports
[1964] 3 WLR 1030
[PRIVY COUNCIL.]
FARRIER-WAIMAK LTD. APPELLANT; AND BANK OF NEW ZEALAND RESPONDENT.
ON APPEAL FROM THE COURT OF APPEAL OF NEW ZEALAND.
1964 Oct. 5.
VISCOUNT RADCLIFFE, LORD MORRIS OF BORTH-Y-GEST, LORD PEARCE, LORD UPJOHN and LORD DONOVAN.
New Zealand
— Lien
— Mortgage
— Priorities
— Land development company
— Bank advance
— Secured by unregistered mortgage on company's land
— Valid equitable charge
— Registered statutory liens for work on company's land by contractor
— Bank's mortgage registered subsequently
— Expressed to be “subject to liens”
— Priority of liens not defeated by bank's original equitable charge
—
Wages Protection and Contractors' Liens Act, No. 27 of 1939 (New Zealand), ss. 21, 25, 41.