{\rtf1\adeflang1025\ansi\ansicpg1252\uc1\adeff0\deff0\stshfdbch0\stshfloch0\stshfhich0\stshfbi0\deflang1033\deflangfe1033\themelang1033\themelangfe0\themelangcs0{\fonttbl{\f0\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman{\*\falt Times New Roman};}
{\f34\fbidi \froman\fcharset0\fprq2{\*\panose 02040503050406030204}Cambria Math;}{\flomajor\f31500\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman{\*\falt Times New Roman};}
{\fdbmajor\f31501\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman{\*\falt Times New Roman};}{\fhimajor\f31502\fbidi \froman\fcharset0\fprq2{\*\panose 02040503050406030204}Cambria;}
{\fbimajor\f31503\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman{\*\falt Times New Roman};}{\flominor\f31504\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman{\*\falt Times New Roman};}
{\fdbminor\f31505\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman{\*\falt Times New Roman};}{\fhiminor\f31506\fbidi \fswiss\fcharset0\fprq2{\*\panose 020f0502020204030204}Calibri;}
{\fbiminor\f31507\fbidi \froman\fcharset0\fprq2{\*\panose 02020603050405020304}Times New Roman{\*\falt Times New Roman};}{\f336\fbidi \froman\fcharset238\fprq2 Times New Roman CE{\*\falt Times New Roman};}
{\f337\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr{\*\falt Times New Roman};}{\f339\fbidi \froman\fcharset161\fprq2 Times New Roman Greek{\*\falt Times New Roman};}
{\f340\fbidi \froman\fcharset162\fprq2 Times New Roman Tur{\*\falt Times New Roman};}{\f341\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew){\*\falt Times New Roman};}
{\f342\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic){\*\falt Times New Roman};}{\f343\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic{\*\falt Times New Roman};}
{\f344\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese){\*\falt Times New Roman};}{\f676\fbidi \froman\fcharset238\fprq2 Cambria Math CE;}{\f677\fbidi \froman\fcharset204\fprq2 Cambria Math Cyr;}
{\f679\fbidi \froman\fcharset161\fprq2 Cambria Math Greek;}{\f680\fbidi \froman\fcharset162\fprq2 Cambria Math Tur;}{\f683\fbidi \froman\fcharset186\fprq2 Cambria Math Baltic;}{\f684\fbidi \froman\fcharset163\fprq2 Cambria Math (Vietnamese);}
{\flomajor\f31508\fbidi \froman\fcharset238\fprq2 Times New Roman CE{\*\falt Times New Roman};}{\flomajor\f31509\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr{\*\falt Times New Roman};}
{\flomajor\f31511\fbidi \froman\fcharset161\fprq2 Times New Roman Greek{\*\falt Times New Roman};}{\flomajor\f31512\fbidi \froman\fcharset162\fprq2 Times New Roman Tur{\*\falt Times New Roman};}
{\flomajor\f31513\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew){\*\falt Times New Roman};}{\flomajor\f31514\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic){\*\falt Times New Roman};}
{\flomajor\f31515\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic{\*\falt Times New Roman};}{\flomajor\f31516\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese){\*\falt Times New Roman};}
{\fdbmajor\f31518\fbidi \froman\fcharset238\fprq2 Times New Roman CE{\*\falt Times New Roman};}{\fdbmajor\f31519\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr{\*\falt Times New Roman};}
{\fdbmajor\f31521\fbidi \froman\fcharset161\fprq2 Times New Roman Greek{\*\falt Times New Roman};}{\fdbmajor\f31522\fbidi \froman\fcharset162\fprq2 Times New Roman Tur{\*\falt Times New Roman};}
{\fdbmajor\f31523\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew){\*\falt Times New Roman};}{\fdbmajor\f31524\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic){\*\falt Times New Roman};}
{\fdbmajor\f31525\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic{\*\falt Times New Roman};}{\fdbmajor\f31526\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese){\*\falt Times New Roman};}
{\fhimajor\f31528\fbidi \froman\fcharset238\fprq2 Cambria CE;}{\fhimajor\f31529\fbidi \froman\fcharset204\fprq2 Cambria Cyr;}{\fhimajor\f31531\fbidi \froman\fcharset161\fprq2 Cambria Greek;}{\fhimajor\f31532\fbidi \froman\fcharset162\fprq2 Cambria Tur;}
{\fhimajor\f31535\fbidi \froman\fcharset186\fprq2 Cambria Baltic;}{\fhimajor\f31536\fbidi \froman\fcharset163\fprq2 Cambria (Vietnamese);}{\fbimajor\f31538\fbidi \froman\fcharset238\fprq2 Times New Roman CE{\*\falt Times New Roman};}
{\fbimajor\f31539\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr{\*\falt Times New Roman};}{\fbimajor\f31541\fbidi \froman\fcharset161\fprq2 Times New Roman Greek{\*\falt Times New Roman};}
{\fbimajor\f31542\fbidi \froman\fcharset162\fprq2 Times New Roman Tur{\*\falt Times New Roman};}{\fbimajor\f31543\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew){\*\falt Times New Roman};}
{\fbimajor\f31544\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic){\*\falt Times New Roman};}{\fbimajor\f31545\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic{\*\falt Times New Roman};}
{\fbimajor\f31546\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese){\*\falt Times New Roman};}{\flominor\f31548\fbidi \froman\fcharset238\fprq2 Times New Roman CE{\*\falt Times New Roman};}
{\flominor\f31549\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr{\*\falt Times New Roman};}{\flominor\f31551\fbidi \froman\fcharset161\fprq2 Times New Roman Greek{\*\falt Times New Roman};}
{\flominor\f31552\fbidi \froman\fcharset162\fprq2 Times New Roman Tur{\*\falt Times New Roman};}{\flominor\f31553\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew){\*\falt Times New Roman};}
{\flominor\f31554\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic){\*\falt Times New Roman};}{\flominor\f31555\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic{\*\falt Times New Roman};}
{\flominor\f31556\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese){\*\falt Times New Roman};}{\fdbminor\f31558\fbidi \froman\fcharset238\fprq2 Times New Roman CE{\*\falt Times New Roman};}
{\fdbminor\f31559\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr{\*\falt Times New Roman};}{\fdbminor\f31561\fbidi \froman\fcharset161\fprq2 Times New Roman Greek{\*\falt Times New Roman};}
{\fdbminor\f31562\fbidi \froman\fcharset162\fprq2 Times New Roman Tur{\*\falt Times New Roman};}{\fdbminor\f31563\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew){\*\falt Times New Roman};}
{\fdbminor\f31564\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic){\*\falt Times New Roman};}{\fdbminor\f31565\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic{\*\falt Times New Roman};}
{\fdbminor\f31566\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese){\*\falt Times New Roman};}{\fhiminor\f31568\fbidi \fswiss\fcharset238\fprq2 Calibri CE;}{\fhiminor\f31569\fbidi \fswiss\fcharset204\fprq2 Calibri Cyr;}
{\fhiminor\f31571\fbidi \fswiss\fcharset161\fprq2 Calibri Greek;}{\fhiminor\f31572\fbidi \fswiss\fcharset162\fprq2 Calibri Tur;}{\fhiminor\f31575\fbidi \fswiss\fcharset186\fprq2 Calibri Baltic;}
{\fhiminor\f31576\fbidi \fswiss\fcharset163\fprq2 Calibri (Vietnamese);}{\fbiminor\f31578\fbidi \froman\fcharset238\fprq2 Times New Roman CE{\*\falt Times New Roman};}
{\fbiminor\f31579\fbidi \froman\fcharset204\fprq2 Times New Roman Cyr{\*\falt Times New Roman};}{\fbiminor\f31581\fbidi \froman\fcharset161\fprq2 Times New Roman Greek{\*\falt Times New Roman};}
{\fbiminor\f31582\fbidi \froman\fcharset162\fprq2 Times New Roman Tur{\*\falt Times New Roman};}{\fbiminor\f31583\fbidi \froman\fcharset177\fprq2 Times New Roman (Hebrew){\*\falt Times New Roman};}
{\fbiminor\f31584\fbidi \froman\fcharset178\fprq2 Times New Roman (Arabic){\*\falt Times New Roman};}{\fbiminor\f31585\fbidi \froman\fcharset186\fprq2 Times New Roman Baltic{\*\falt Times New Roman};}
{\fbiminor\f31586\fbidi \froman\fcharset163\fprq2 Times New Roman (Vietnamese){\*\falt Times New Roman};}}{\colortbl;\red0\green0\blue0;\red0\green0\blue255;\red0\green255\blue255;\red0\green255\blue0;\red255\green0\blue255;\red255\green0\blue0;
\red255\green255\blue0;\red255\green255\blue255;\red0\green0\blue128;\red0\green128\blue128;\red0\green128\blue0;\red128\green0\blue128;\red128\green0\blue0;\red128\green128\blue0;\red128\green128\blue128;\red192\green192\blue192;}{\*\defchp \fs22 }
{\*\defpap \ql \li0\ri0\sa200\sl276\slmult1\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 }\noqfpromote {\stylesheet{\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af0\afs20\alang1025 
\ltrch\fcs0 \fs20\lang1033\langfe5129\cgrid\langnp1033\langfenp5129 \snext0 \sqformat \spriority0 Normal;}{\*\cs10 \additive \ssemihidden Default Paragraph Font;}{\*
\ts11\tsrowd\trftsWidthB3\trpaddl108\trpaddr108\trpaddfl3\trpaddft3\trpaddfb3\trpaddfr3\trcbpat1\trcfpat1\tblind0\tblindtype3\tscellwidthfts0\tsvertalt\tsbrdrt\tsbrdrl\tsbrdrb\tsbrdrr\tsbrdrdgl\tsbrdrdgr\tsbrdrh\tsbrdrv \ql \li0\ri0\sa200\sl276\slmult1
\widctlpar\wrapdefault\aspalpha\aspnum\faauto\adjustright\rin0\lin0\itap0 \rtlch\fcs1 \af0\afs22\alang1025 \ltrch\fcs0 \fs22\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 \snext11 \ssemihidden \sunhideused \sqformat Normal Table;}}
{\*\rsidtbl \rsid354151\rsid475071\rsid592213\rsid931206\rsid1048718\rsid1117796\rsid1141765\rsid1201037\rsid1524183\rsid1602647\rsid1849390\rsid2456379\rsid2510191\rsid2824364\rsid2825957\rsid2974513\rsid3735952\rsid3899316\rsid4668340\rsid5203930
\rsid5471125\rsid6366369\rsid6773214\rsid7941035\rsid8143934\rsid8722687\rsid8798746\rsid9062765\rsid9522701\rsid9533745\rsid9779222\rsid10181656\rsid10577341\rsid10693620\rsid10749838\rsid10819889\rsid10841554\rsid10843422\rsid10888035\rsid11021949
\rsid11273768\rsid11630533\rsid11673044\rsid12126570\rsid12259885\rsid12781729\rsid12995324\rsid13193352\rsid13252582\rsid13333650\rsid13507588\rsid14889938\rsid15016242\rsid15626262\rsid15811226\rsid15952138\rsid15996218\rsid16013081\rsid16466597
\rsid16528831}{\mmathPr\mmathFont34\mbrkBin0\mbrkBinSub0\msmallFrac0\mdispDef1\mlMargin0\mrMargin0\mdefJc1\mwrapIndent1440\mintLim0\mnaryLim1}{\info{\author Teniau_D}{\operator baleimatuku_l}{\creatim\yr2005\mo2\dy1\hr8\min44}
{\revtim\yr2015\mo10\dy12\hr16\min25}{\version55}{\edmins246}{\nofpages11}{\nofwords4836}{\nofchars23424}{\*\company USP}{\nofcharsws28204}{\vern32859}}{\*\xmlnstbl {\xmlns1 http://schemas.microsoft.com/office/word/2003/wordml}}
\paperw11904\paperh16834\margl1440\margr1440\margt1440\margb1440\gutter0\ltrsect 
\widowctrl\ftnbj\aenddoc\trackmoves1\trackformatting1\donotembedsysfont0\relyonvml0\donotembedlingdata1\grfdocevents0\validatexml0\showplaceholdtext0\ignoremixedcontent0\saveinvalidxml0\showxmlerrors0\noxlattoyen
\expshrtn\noultrlspc\dntblnsbdb\nospaceforul\subfontbysize\hyphcaps0\formshade\horzdoc\dgmargin\dghspace100\dgvspace120\dghorigin1701\dgvorigin1984\dghshow0\dgvshow3
\jcompress\viewkind4\viewscale140\pgbrdrhead\pgbrdrfoot\nolnhtadjtbl\viewnobound1\rsidroot475071 \fet0{\*\wgrffmtfilter 2450}\ilfomacatclnup0\ltrpar \sectd \ltrsect\psz9\linex0\sectlinegrid272\sectdefaultcl\sectrsid13333650\sftnbj {\*\pnseclvl1
\pnucrm\pnstart1\pnindent720\pnhang {\pntxta .}}{\*\pnseclvl2\pnucltr\pnstart1\pnindent720\pnhang {\pntxta .}}{\*\pnseclvl3\pndec\pnstart1\pnindent720\pnhang {\pntxta .}}{\*\pnseclvl4\pnlcltr\pnstart1\pnindent720\pnhang {\pntxta )}}{\*\pnseclvl5
\pndec\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl6\pnlcltr\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl7\pnlcrm\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}{\*\pnseclvl8\pnlcltr\pnstart1\pnindent720\pnhang 
{\pntxtb (}{\pntxta )}}{\*\pnseclvl9\pnlcrm\pnstart1\pnindent720\pnhang {\pntxtb (}{\pntxta )}}\pard\plain \ltrpar\qr \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid8722687 \rtlch\fcs1 \af0\afs20\alang1025 \ltrch\fcs0 
\fs20\lang1033\langfe5129\cgrid\langnp1033\langfenp5129 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid8722687\charrsid13333650 [1989] 35 FLR 1
\par }\pard \ltrpar\qc \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \ab\af0\afs24 \ltrch\fcs0 \b\fs24\lang2057\langfe5129\langnp2057\insrsid13333650 
\par HIGH COURT OF FIJI
\par 
\par }{\rtlch\fcs1 \ab\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid13333650\charrsid13333650 Civil Jurisdiction
\par }{\rtlch\fcs1 \ab\af0\afs24 \ltrch\fcs0 \b\fs24\lang2057\langfe5129\langnp2057\insrsid13333650 
\par }\pard \ltrpar\qc \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid13333650 {\rtlch\fcs1 \ab\af0\afs24 \ltrch\fcs0 \b\fs24\lang2057\langfe5129\langnp2057\insrsid10577341\charrsid13333650 GUNAC (FIJI) LIMITED}{\rtlch\fcs1 
\ab\af0\afs24 \ltrch\fcs0 \b\fs24\lang2057\langfe5129\langnp2057\insrsid10749838 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid13333650\charrsid13333650 
\par }{\rtlch\fcs1 \ab\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid13333650 v}{\rtlch\fcs1 \ab\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid13333650\charrsid13333650 
\par }{\rtlch\fcs1 \ab\af0\afs24 \ltrch\fcs0 \b\fs24\lang2057\langfe5129\langnp2057\insrsid10577341\charrsid13333650 WESTPAC BANKING CORPORATION}{\rtlch\fcs1 \ab\af0\afs24 \ltrch\fcs0 \b\fs24\lang2057\langfe5129\langnp2057\insrsid2825957 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid13333650\charrsid13333650 
\par }{\rtlch\fcs1 \ab\af0\afs24 \ltrch\fcs0 \b\fs24\lang2057\langfe5129\langnp2057\insrsid10577341\charrsid13333650 ARYAN BUILDING & MARINE SUPPLIES}{\rtlch\fcs1 \ab\af0\afs24 \ltrch\fcs0 \b\fs24\lang2057\langfe5129\langnp2057\insrsid10749838 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid13333650\charrsid13333650 
\par }{\rtlch\fcs1 \ab\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid13333650 v}{\rtlch\fcs1 \ab\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid13333650\charrsid13333650 
\par }\pard \ltrpar\qc \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \ab\af0\afs24 \ltrch\fcs0 \b\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 WESTPAC BANKING CORPORATION
\par ADAM DICKSON
\par }\pard \ltrpar\qc \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid13333650 {\rtlch\fcs1 \ab\af0\afs24 \ltrch\fcs0 \b\fs24\lang2057\langfe5129\langnp2057\insrsid10577341\charrsid13333650 LILADHAR JERAJ}{\rtlch\fcs1 \ab\af0\afs24 
\ltrch\fcs0 \b\fs24\lang2057\langfe5129\langnp2057\insrsid10577341 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid13333650\charrsid13333650 
\par }\pard \ltrpar\qc \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10577341\charrsid13333650 Fatiaki J}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid13333650 
\par 
\par }\pard \ltrpar\qc \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid13333650 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid13333650 13 January 1989}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid10577341 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid13333650\charrsid13333650 
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Companies}{\rtlch\fcs1 \ai\af0\afs24 
\ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 -}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 debenture}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 -}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 moneys payable }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 on demand}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 " }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 -}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  whether time allowed for}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 payment}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 adequate }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 -}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  effect of app}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 ointment of receiver on powers o}{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 f}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 directors}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\fs24\lang2057\langfe5129\langnp2057\insrsid12781729\charrsid13333650 receiver}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 s power of}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 sale}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 -}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  whether contractual or statutory}{\rtlch\fcs1 \ai\af0\afs24 
\ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 -}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  Land Transfer Act (Cap 130) Sections 77, 78, 79 & 80.}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
The bank demanded repayment within 3 hours of sums owed to it by the two Plaintiff companies. The companies argued that the time allowed for repayment was unreasonably short, that it was shorter than 
the minimum period allowed by statute and that a receiver could only be appointed after a statutory power to sell had arisen. Allowing an application by the bank to strike out the companies}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  Statement of Claim the High Court rejected the Companies}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  submissions and }{\rtlch\fcs1 \ab\af0\afs24 
\ltrch\fcs0 \b\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 HELD}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid5203930\charrsid13333650 : (i}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
) that the demand repayment period was reasonable and (ii) that given the terms of the debenture and deed between the parties the bank was entitled to appoint a receiver and to exercise its powers of sale.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Cases cited:
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 ANZ Banking Group Ltd v}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid1201037\charrsid13333650 .}{
\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  Gibson}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  [1986] 1 NZLR 557}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Attorney}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 -}{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 General v}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid1201037\charrsid13333650 .}{\rtlch\fcs1 \ai\af0\afs24 
\ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  Halka}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  18 FLR 210
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Cripps (Pharmaceuticals) Ltd v}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid1201037\charrsid13333650 .}
{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  Wickenden}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  [1973] 2 All ER 606}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Drummond}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 -}{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Jackson v}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid1201037\charrsid13333650 .}{\rtlch\fcs1 \ai\af0\afs24 
\ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  BMA}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  [1970] 1 WLR 688
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid4668340\charrsid13333650 Gartside v}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid1201037\charrsid13333650 .}{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid4668340\charrsid13333650  Sheffield, Young & E}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 llis}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650  [1983] NZLR 37
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Lawson v}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid1201037\charrsid13333650 .}{\rtlch\fcs1 
\ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  Hosemaster}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650  }{\rtlch\fcs1 \ai\af0\afs24 
\ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Machine Co}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 . [1965] 3 All ER 1401
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Moss Steamship Co. Ltd v}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid1201037\charrsid13333650 .}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Whinney}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 [1912] AC 263
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Newhart Developments v}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid1201037\charrsid13333650 .}{
\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  Co}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 -}{\rtlch\fcs1 \ai\af0\afs24 
\ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Op Bank}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid12781729\charrsid13333650  [1978] }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 1 QB 814
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Paramount Acceptance Co. Ltd v}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid1201037\charrsid13333650 .}
{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  Souster}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 [1981}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 ] 2 NZLR 38
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 V. Parmanandam}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650  for the Plaintiffs

\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 B.N. Sweetman}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  for the Defendants

\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Interlocutory}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
 application in the High Court.
\par 
\par }{\rtlch\fcs1 \ab\af0\afs24 \ltrch\fcs0 \b\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Fatiaki J:}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
\par 
\par The plaintiff companies (hereafter jointly referred to as the companies) maintained accounts with the defendant bank (hereafter referred to as the bank) from July, 1984. In respect of both }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15811226\charrsid13333650 accounts,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  the bank provided overdraft facilities which were secured }{
\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 inter alia}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
 by debentures over the companies}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
 assets and uncalled capital and additionally in respect of the 2nd plaintiff company by a registered first mortgage over its premises at Waimanu Road.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
\par 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 These above}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 -}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 mentioned securities were all executed on the 25th of August, 1984 and registered with the Registrar of Companies on the 12th of September, 1984.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 The terms of the debentures are in a standard form used by the bank and includes the usual covenant that the mortgagor or company }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 w}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 ill pay to the Bank on demand}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid4668340\charrsid13333650 \'85.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 the moneys hereby secured ....}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  In this case being $40,000 and $50,000 respectively.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 The original overdraft facilities provided by the bank in its letter of 4th July, 1984 in respect of each company was as follows:
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
\par }\pard \ltrpar\ql \li720\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 (a)}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid11021949\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Gunac }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 Fiji Limited}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 :-}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
\par }\pard \ltrpar\ql \li1440\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin1440\itap0\pararsid2974513 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 Working account limit $20,000}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2974513\charrsid13333650 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2974513\charrsid13333650 Fixed loan limit }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 $20,000.}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
\par }\pard \ltrpar\ql \li720\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 (b) }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 Aryan Building and Marine Supplies Limited:-
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
\par }\pard \ltrpar\ql \li1440\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin1440\itap0\pararsid2974513 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 Working Account limit $10,000}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10888035\charrsid13333650 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10888035\charrsid13333650 Fixed loan limit }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 $40,000.}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 In a letter from the bank to the companies on the 8th November, 1985 the bank recorded the unacceptability of the then position of}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 the accounts and the companies}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
were requested to furnish 1985 Balance Sheets and Accounts.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11021949\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 The companies were also requested }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 to.... }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 kindly refrain from drawing further}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 , at the risk of having cheques returned.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid4668340\charrsid13333650 A further letter on the 2}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid1602647\charrsid13333650 nd}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  of October, 1987 to the directors of the 2nd plaintiff company recorded that the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 debts are stagnant}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  and }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 inter alia}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  doubted the companies ability }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid4668340\charrsid13333650 to amortize the loan monie}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 s}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 . The bank requested further accounts and a proposal as to how the 2nd plaintiff company intended to clear the bank}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 s debt.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15811226\charrsid13333650 Finally,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
 on the 14th of December, 1987, by separate Notices of Demand under the hand of the Deputy Manager, the bank demanded p}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
ayment of $60,448.33 from the 1}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 st plaintiff company and $74,254.11 from the 2nd plaintiff company.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 In each deman}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
d the company was given up to 1}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid16528831\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
pm. on the same day to pay the above sums or }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 ...}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
 the bank will take such action as it may be advised for recovery of the said moneys}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 .
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 It is convenient at this stage to record that Narendra Ku
mar Aryan is a director and shareholder of the companies and was the relevant company official with whom the bank had always dealt in respect of the accounts maintained by the companies.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 It was on him that both Notices of Demand were served at 10.25 a.m. 
on the 14th of December, 1987 and which in terms required the companies within 3 hours at most to find and pay a total of $134,702.49.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Also on the 14th of December, 1987 by a formally executed deed, the bank acting pursuant to Clause 21 of the debentures appointed the 2nd}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 -}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
named defendants who are chartered accountants, as receivers of the companies (hereinafter jointly referred to as }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 the receivers}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  and together with the bank as the defendants).
\par 
\par On the 15th of December, 1987 the companies issued separate generally indorsed Writs of Summons }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 inter alia}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  seeking restraining orders against the bank and the receivers.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 On the same day the companies by its solicitor also issued separate interlocutory summonses supported by an affidavit sworn by Narendra Kumar Ary
an seeking the same restraining orders and several declarations.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 I say at once that I entertain grave doubts a
bout granting an interim declaration on an interlocutory application particularly where the declarations sought are likely to finally determine the issues in the case.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
These were subsequently followed by a Statement of Claim dated the 24th of December, 1987 which on the face of it purported to consolidate the two hitherto separate actions.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 On the 20th of January, 1988 the receivers entered separate appearances by their solicitors to the still separate actions and on the 11}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\super\langnp2057\insrsid2510191\charrsid13333650 th}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2510191\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 of February, 1988 the bank did likewise by the same firm of solicitors.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 On this latter date the companies sought by summons a consolidation of both actions which was subsequently granted unopposed o
n the 3rd of June, 1988.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
On the 7th of June, 1988 the companies sought and obtained an interim order of the court preventing the defendants from disposing of any of the assets under the debentures.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 On the 10th of June, 1988 a consolidated Statement of Claim was f}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid8143934\charrsid13333650 i}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
led and on the 7th of July the defendants filed a Statement of Defence to the consolidated Statement of Claim.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Thereafter on the 28th of July, 1988 the companies filed a consolidated affidavit sworn by Narendra Kumar Aryan }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 on, the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  20th of July, 
1988 in support of its interlocutory summons earlier filed on the 7th of June.
\par 
\par On the 1st of September, 1988 the receivers issued a summons pursuant to Orders 2 and 18 of the High Court Rules seeking to set aside the companies writs together with an affidavit sworn by Adam Dickson the first}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 -}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 named receiver opposing the further extension of the inte}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 ri}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
m injunction granted to the companies on the 7th of June, 1988.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 On the 7th of September, 1988 the banks filed an affidavit sworn by its Deputy Manager Noel Rya
n in opposition to the companies consolidated affidavit of the 20th of July, 1988.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid8143934\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 As at the 19th of October, 19}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
88 when the consolidated action came before me for hearing the following matters remained undisposed of:
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }\pard \ltrpar\ql \li720\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid11630533 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 (1) The plaintiffs}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650  application for a permanent injunction; and
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid11630533 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }\pard \ltrpar\ql \li720\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid11630533 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 (2) The defendants}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650  application to set aside the writs.
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 In view of the existence of an interim order of the court preventing the defendants from disposing of any }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 of the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  assets under the companies}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  debentures and mortgage and th
e issues common to both applications, in particular, whether or not there was a serious question to be tried, it was agreed that the defendants should be heard first.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 As earlier mentioned the defendants}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  application to set aside the writs was based on Order 2 rule 2 and Order 18 rule 18 of the High Court Rules.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 In developing his argument learned counsel for the defendants argued firstly, that the companies}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
 writs were irregular in that receivers had been appointed for the companies and neither company had the power nor standing to bring civil proceedings without the consent of the receivers.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Reference was made to the case of }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
Lawson v. Hosemaster Machine Co}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650  [}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid13333650 1965] 3 All ER}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  1401 per Cross, J. to the effect that once a receiver is appointed by a debenture holder, the powers of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 the directors of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
the company are seriously qualified or limited, even suspended. (see also: per Atkinson, L.J. in }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Moss Steamship Co. Ltd. v. Whinne}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 y}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid13333650  [1912] AC}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  254 at p. 263).
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15811226\charrsid13333650 However, of more direct relevance are the detailed provisions of Clause 21 of the debentures which in terms provide inter alia:}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }\pard \ltrpar\ql \li720\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid11630533 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \ab\af0\afs24 \ltrch\fcs0 
\b\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 PROVIDED}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  always that every such Receiver shall be the agent; o
f the Mortgagor .... and shall have .... the following powers:
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid11630533 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }\pard \ltrpar\ql \li720\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid9779222 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 (xii)}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid11021949\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
to take proceedings in law or in equity or in bankruptcy in the name of the Mortgagor or otherwise for all or any of the purposes aforesaid;}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Needless to say, the receivers}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 power to take proceedings under }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 the above sub}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 -}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 para of Clause 21 is not limitless and in my view does not exclude a director of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650  the companies from separately instituting proceedings in the name of the company.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid9779222\charrsid13333650 I am for}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 t}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid9779222\charrsid13333650 ifie}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 d in my view by the dictum of Shar, L.J. in }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 Newhark Developments v Co-op. Bank}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650  }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid13333650 [1978] 1 Q}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
B 814 at p. 819 where he said of a similar worded power in the debenture there under consideration:
\par 
\par }\pard \ltrpar\ql \li720\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid11630533 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
In so far as it is requisite and necessary for him, (i.e. the receivers) in the course of his dealing with the assets of the company, bringing them in and realising them, and so on, to bring ac}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid9779222\charrsid13333650 tions as well, he is empowered}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11021949\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 to do so by the debenture trust 
deed in the name of the company. That makes it possible for him to institute such proceedings without exposing himself to the risk of a liability for costs if those proceedings should fail. But the provisions in the debenture trust deed giving him that po
wer is an enabling provision which invests him with the capacity to bring an action in the name of the company. }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 It does n}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid8798746\charrsid13333650 ot divest the directors of the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
company of their power, as the go}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid10819889\charrsid13333650 verning body of the company, of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  instituting proceedings in a situation w
here so doing does not in any way impinge prejudicially upon the position of the debenture holders by threatening or imperilling the assets which are subject to the charge.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }\pard \ltrpar\ql \li720\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid11630533 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
There is in the debenture deed itself a provision to the effect that the receiver may carry on the business of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
the company or concur in carrying on its business, which itself demonstrates that there is not a total extinction of the function of the directors. It is only within the scope of its assets which are covered by the debenture, a
nd only in so far as it is necessary to apply those assets in the best possible way in the interests of the debenture holders, that the receiver has a real function.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  (my underlining).
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Furthermore at p. 821 where the learned justice said:}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par 
\par }\pard \ltrpar\ql \li720\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid9533745 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 What, of course, the directors cannot do, and to this extent their powers are inhibited, is to dispose of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid354151\charrsid13333650 f}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
 the assets within the debenture charge without the assent or concurrence of the receiver, for it is his function to deal with the assets in the first place so as to provide the means of paying off the debenture holders}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  claims. }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 But where there is a right of action which the board}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
 (though not the receiver) }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 would wish to pursue, it does not seem to me that the rights or function of the receiver are affected if the com
pany is indemnified against any liability for costs as here)}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid354151\charrsid13333650 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 (my underlining).
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid11630533 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Newhart}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 s}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  case is factually distinguishable from the present which is more closely akin to that in the New Zealand case of }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Paramount Acceptance Co. Ltd. v. Souste}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 r [1981] 2 NZLR 38 in }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 which}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
 the action was instituted by the company on the authority of 2 directors against the receiver and debenture holder.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 In the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Paramount}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11673044\charrsid13333650 case,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  the New Zealand Court of Appeal accepted that the directors of a company under receivership, may institute proceedings for the company without the receiver}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 s consent so long as the company was indemnified against}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 any liability for costs.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
The New Zealand Court of Appeal also advanced an additional ground for permitting the action to continue (of particular relevance in this case) when it said at p. 43:
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }\pard \ltrpar\ql \li720\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid11630533 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 A further consideration in this case is that the action here concerns the validity of the contract made between the company and the debenture holder which has appointed the receiver. }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 The receiver of the appellant}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
 should not be put }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 in the uncomfortable and untenable position of determining whether those adversary proceedings should continue, 
and the company must have the right, independently of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 the receiver,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid7941035\charrsid13333650  to take such action as it think}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 s fit on all matters in dispute}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  in respect of the }{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 alleged contract with the debenture holder.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 (my underlining).
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid11630533 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11673044\charrsid13333650 Similarly,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  in this case the plaintiff companies have sued both the debenture holder (Westpac Banking Corporation) and the receivers (Adam Dickson and Lalidhar Jeraj)}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid13193352\charrsid13333650 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 The allege in the consolidated Statement of Claim a breach of contract by the debenture holder (see paras. 19 and 20 and particular
s (a) and (b) thereto); trespass by the defendants presumably in securing the company premises by changing and/or installing additional locks (see paras. 2q and 25); and a third allegation that }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid13193352\charrsid13333650 the Notices of Demand and Deeds }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 of Appointment of the Receiver
s were ineffective, null and void (see paras. 22 and 23 and prayer (b)).
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
I also note that there is no suggestion that the companies or directors seek to dispose of or deal with the assets covered by the debentures nor has any agreement or undertaking to indemnify the company as to costs been given by the director.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Nevertheless, I am satisfied that this present action is supported by authority and is not irregular }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid13193352\charrsid13333650 in}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  form nor in my view can it be said to be an abuse of the court}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
s process as was argued by learned counsel for the defendants.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11673044\charrsid13333650 Needless to say, the defendants (including the receivers) separately entered appearances in the action, unconditionally. }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 There was filed on the 7}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\super\langnp2057\insrsid3899316\charrsid13333650 th}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 of July, 1988 a joint Statement of Defence t
o the companies consolidated Statement of Claim in which there was no demurer to the companies}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  locus in the action and the obj}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 ection was first taken on the 1}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\super\langnp2057\insrsid3899316\charrsid13333650 st}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 of September, 1988 (some 8}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\super\langnp2057\insrsid15996218\charrsid13333650 1}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15996218\charrsid13333650 /}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\sub\langnp2057\insrsid15996218\charrsid13333650 2}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15996218\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 months after the issuance of the compan}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 ies}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  writs).
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11630533\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 I turn next to deal with defendants}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  argument under Order 18 rule 18 that the companies}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
 consolidated Statement of Claim discloses no reasonable cause of action and are an abuse of the process of the court.
\par 
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid3899316 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
Such an application only permits and requires the court to examine the companies consolidated Statement of Claim without reference to extraneous affidavit evidence}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650  other than the debentures, mortgage and correspondence which are expressly incorporated in the pleadings.
\par 
\par The Fiji Court of Appeal in }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 Attorney-General v. Halka }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid13333650 
18 FLR}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
 210 held that the power to strike out a Statement of Claim given by Order 18 rule 19 (now rule 18) is one which is to be sparingly used and is not appropriate to cases involving difficult and complicated questions of law.
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
\par Further it is well settled that an application of this nature can only succeed B}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11021949\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 where it can be clearly seen that the claim is obviously unsustainable even accepting the correctness of all facts pleaded in the Statement of Claim (per Pearson, L.J. in }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Drummond}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 -}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Jackson v. B.M.A.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  [1970] 1}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 WLR 688 at pp 695 and 696).
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
But this does not mean that the jurisdiction cannot be exercised whenever extensive argument is necessary to demonstrate that the question of law arising from the plaintiffs}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  case was so clearly 
untenable that it could not possibly succeed. (per Richardson, J. in }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Gartside v. Sheffield, Young & Ellis}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  [1983] NZLR 37 at p. 45. (CA)).
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 In this present }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11673044\charrsid13333650 case,}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  the companies raise 3 grounds or causes of action in their consolidated Statement of Claim as follows:
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }\pard \ltrpar\ql \li720\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid3899316 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 (A)}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid11021949\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Breach of Contract:}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }\pard \ltrpar\ql \li1440\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin1440\itap0\pararsid3899316 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Clause 19}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
: The Defendant bank breached its contractual treaty with the Plaintiff in so far as it failed to afford the Plaintiffs a reasonable time to comply with its request dated the 2nd of October, 1987 and further fail
ed to allow the Plaintiff a reasonable time to pay or find sources of alternative finance.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid3899316 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }\pard \ltrpar\ql \li720\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid3899316 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 (B)}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid11021949\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 Invalidity }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 of the Bank}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 s Notices of Demand and Deeds of Appointment of Receivers}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 :
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid3899316 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }\pard \ltrpar\ql \li1440\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin1440\itap0\pararsid3899316 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Clause 19}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 : The Plaintiff companies say that the said notices were bad in la
w in so far as they failed to allow sufficient time for compliance in breach of Sections 77, 78 and 79 of the Property Law Act.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 ; and
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid3899316 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }\pard \ltrpar\ql \li1440\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin1440\itap0\pararsid3899316 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Clause 23}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
: The Plaintiffs deny that each of the said notices were effective in form and or substance to achieve an appointment of receiver in view of the purported }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 crystallisation}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
 of the charged by the notices of demand served on the 10th of December 1987.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid3899316 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }\pard \ltrpar\ql \li720\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid3899316 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 (C)}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid11021949\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Trespass by the receivers}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 :
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid3899316 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }\pard \ltrpar\ql \li1440\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin1440\itap0\pararsid3899316 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Clause 24}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 : On or about the 16th of December, 1987 the}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
 receivers secured the premises of the Plaintiff thereby precluding entry by the Plaintiffs it serves and offices to the premises. The said securing of the premises constituted
 a trespass by the receivers acting at the instigation of the Defendant Bank for which it was and is vicariously liable.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Dealing firstly with Breach of Contract. As pleaded, the companies say that the requirement to afford reasonable time }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10841554\charrsid13333650 to meet a Notice of Demand is an}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
 implied term of the debenture and mortgage and the 3 hours given was wholly inadequate and unreasonable and constituted a breach.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 As earlier noted the debentures and m}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 
ortgage are payable on demand. (}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 s}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 ee}
{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Clause 1 of each document). The law
 in regard to such a clause is clear and has been recently restated by the New Zealand Court of Appeal in }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 A}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 N.Z. Banking Group (NZ) Ltd. v. Gibson}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  [1986] 1 NZLR 557 which held:
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }\pard \ltrpar\ql \li720\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid3899316 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 Payment on demand required that the companies be given a reasonable time to c
omply. What is a reasonable time must depend on the circumstances of each case, bearing in mind the pre-emptory nature of an }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 on demand}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650  obligation.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 In that case the companies were required to obtain $128,000 within 2 hours of demand.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 In the New Zealand
 Court of Appeal, Richardson, J. in a scholarly analysis of the relevant authorities from several Commonwealth jurisdictions stated at p. 565:
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid3899316 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }\pard \ltrpar\ql \li720\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid3899316 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 In my view the only proper justification for allowing any time for payment after the actual demand is made is t
he practical commercial consideration that the borrower is not expected to have large cash sums immediately at hand. However, he is expected to pay from resources which are presently accessible to him but have to be converted into immediate cash or utilis
ed within the same time to obtain financial cover. It is the time reasonably required to achieve that, always bearing in mind that it is a demand liability, which must be met. And }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 further time to n}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid2824364\charrsid13333650 egotiate a loan with a third party}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650  is not comprehended within that reasonable time}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
. The test is objective and produces the certainty which commercial parties require in order to be clear from the outset as to their rights and obligations.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10693620\charrsid13333650 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650  (my underlining)
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Learned counsel for the defendants also referred to the English case of }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Cri}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 pp}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 s (Pharmaceuticals) Ltd. v. Wickenden}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid13333650  [1973] 2 All ER}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  606 in which demand was made at about 11 a.m. and the receiver was appointed about midday giving barely an hour within which the company was required to find the money.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 It was held in that case:
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }\pard \ltrpar\ql \li720\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid3899316 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 (iii)\'85\'85..}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
where money was repayable on demand, all a creditor had to do was to give the debtor time to get the money from some convenient place; he was not obliged to give the debtor time to negotiate a deal wh}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid1524183\charrsid13333650 ich might produce the money ...}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid3899316 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 In the present }{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11673044\charrsid13333650 case,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
 it is not disputed that the companies were given about 3 hours, after service of the Notices of Demand, within which to find the money and it was only thereafter that the receivers were appointed by the bank.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Holland, J. at first instance in the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
ANZ Banking Group}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  case reported in [1981}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 ]}
{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  2 NZLR 513 in holding that the 2 hours there given was a reasonable time was compelled by the following factors (at p. 530)
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }\pard \ltrpar\ql \li720\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid3899316 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 ....}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  that the
re was no indication at any stage ever given to the bank that the demand would or could be met; that this was a commercial transaction between two trading corporations; that the companies had the advantage of skilled and competent advice; that the demand 
for payment was not made precipitately without prior negotiations or threats but following several months of expressed statements of concern as to the position.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid3899316 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
Similarly in the present case even accepting that the facts pleaded by the companies in the co
nsolidated Statement of Claim are true and correct, I would have no hesitation in holding that the Notices of Demand were validly served and the receivers properly appointed.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid16466597\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Clause 1 of the debentures and mortgage states:
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }\pard \ltrpar\ql \li720\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid3899316 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 That the mortgagor will pay to the Bank on demand which demand may be made at any time the money hereby secured ...... }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 unless there is an agreement in }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid2824364\charrsid13333650 writing to the contrary between}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid15952138\charrsid13333650  the mortgagor and the Bank}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15952138\charrsid13333650 ...}{
\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 .}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  (my underlining).
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid3899316 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 No such agreement in w
riting to the contrary has been pleaded or provided by the companies.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid16466597\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
Furthermore the facts pleaded cannot and do not give rise to a collateral contract for valuable consideration nor do they cumulatively amount to an unequivocal representation that the moneys secured by }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 the}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
, debentures and mortgage were no longer to be treated as payable on demand or that the bank would take no action to enforce its securities arising from some form of unpleaded promissory estoppel.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid3899316\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 At most the bank was willing to give the companies time to provide the accounts and }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid16466597\charrsid13333650 p}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
roposals it had sought in its letter of the 2nd of October, 1987, in order to enable it to assess the position. It is noteworthy that in this letter the bank recorded }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 .... we need assurance that our loans are not at risk}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 .
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid16466597\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Dealing next with the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid16466597\charrsid13333650 
companies second cause of action}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  namely that the Noti}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2824364\charrsid13333650 ce}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  of Demand were in breach of Sections 77, 78}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2824364\charrsid13333650  and 79 of the Property Law Act,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
 (hereinafter referred to as the Act).
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid16466597\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 In this regard learned counsel for the companies argued that as the Notice of Demand on the 2nd}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid10749838\charrsid13333650 -}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
named plaintiff company specifically included and referred to a Registered Land Transfer Mortgage No. 224790 the bank was required by statute to give a month}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 s notice in its demand and not the 3 hours it purported to give.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid16466597\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
Reference was made to Clause 35 of the debentures and Section 80 of the Act which specifically prohibits the variation or negativing of Sections 77, 78 and 79 of the Act in the case of a mortgage of land.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid16466597\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 In my }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11673044\charrsid13333650 view,}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  there is no arguable or serious question of law raised on this ground which would constrain me to permit it to go to trial and extend the interim injunction.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid16466597\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Even accepting that Sections 77, 78 and 79 of the Act cannot be varied or negatived by agreement
 in this instance, nevertheless, in my view the requirement that default must continue for a month only arises where the mortgagee seeks to sell the land and not otherwise such as where he intends to appoint a receiver (see: the first 4 lines of Section 7
9(1) of the Act).
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid16466597\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 With regard to the validity of the Notices of Demand, Section 78 of the Act specifically provides:
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid16466597\charrsid13333650 
\par }\pard \ltrpar\ql \li720\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid16466597 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Where money secured by a mortgage is made payable on demand (as in this instance by Clause 1 of the registered mortgage) a demand in writing pursuant to the provisions of}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid16466597\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
the mortgage shall be deemed to be the notice in writing}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  to pay the money owing }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 provided for}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\ul\lang2057\langfe5129\langnp2057\insrsid3735952\charrsid13333650  by}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\ul\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  Section 77 and no other notice shall be required}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
 to create the default in payment mentioned in Section 79.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  (my underlining).
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid16466597\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 In my view the bank}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
s Notice of Demand dated the 14th of December, 1987 was a valid demand in writing pursuant to the debentures and mortgage and marked the date from which the mandatory statutory period of one month began to run before the bank could law
fully exercise its right to sell the land under Section 79.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10843422\charrsid13333650 
\par 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 Section 82 of the Act which only empowers a mortgagee to appoint a receiver ...... when}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid16466597\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
(it) has become entitled to exercise the power of sale (conferred by Section 79).....}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  is irrelevant and ha
s no bearing on the appointments under consideration. It does not preclude an appointment under the terms of a debenture nor is it included in Section 80 of the Act.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid16466597\charrsid13333650 
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10843422 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
Whilst I accept that at the time of appointing the receivers, the bank had not become statutorily entitled to sell the land, nevertheless the receivers were appointed by the bank in a deed dated the 14th of December, 1987 pursuant to}{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10843422\charrsid13333650  Clause 21 of the debenture and not pursuant to a statutory right under Section 82 of the Act.
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
\par Clause 21 in clear and express }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10843422\charrsid13333650 terms empowers the bank to appoint }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 a receiver in writing at any time after the moneys become payable.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10843422\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 The moneys in this instance were payable on demand and demand was made and expired at 1 p.m. on the 14th of December, 1987. No further not
ice was needed and time began to run from then.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10843422\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 The receivers were appointed by deed pursuant to Clause 21 and although specifically empowered by the debenture:
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10843422\charrsid13333650 
\par }\pard \ltrpar\ql \li720\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin720\itap0\pararsid10843422 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 (v)}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11021949\charrsid13333650  }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 to sell .... all or any of the mortgaged premises....}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 ,
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10843422 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10843422\charrsid13333650 
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 which includes land in the case
 of the 2nd plaintiff company, the first indication of an exercise of that power by the receivers arose by virtue of a newspaper advertisement dated the 25th of May, 1988 (some 5 months after the Notices of Demand had been served on the companies) invitin
g written tenders for the purchase of the land of the 2nd plaintiff company situated at 354 Waimanu Road.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10843422\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 In my view the existence in a debenture of a power in a receiver to s
ell land does not and cannot mean that the mere appointment of a receiver under the debenture invokes the power to sell in breach of the one month statutory notice required by Section 79 of the Act.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10843422\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
It was argued by learned counsel for the company that as the Land Transfer mortgage did not expressly empower the bank to appoint a receiver therefore the appointment of a receiver under the mortgage must be governed by Section 82 of the Act and therefore
 could only made after the power to sell the land had arisen. (i.e. 1 month after the demand was made.)
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10843422\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
I accept that there would be some force in that argument had the only security document involved been the registered mortgage over the 2nd plaintiff company}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 s land.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid9522701\charrsid13333650 
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid9522701 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid9522701\charrsid13333650 
However, the mortgage was not the only security involved and more importantly the receivers' appointment was not in exercise of a statutory power but was by way of a deed which expressly stated that the appointment was made according to the p
ower of the bank to make the appoi}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid592213\charrsid13333650 ntment under Clause 21 of the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid9522701\charrsid13333650 debentures.
\par }\pard \ltrpar\ql \li0\ri0\widctlpar\wrapdefault\faauto\adjustright\rin0\lin0\itap0\pararsid10749838 {\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10843422\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11273768\charrsid13333650 Clearly the bank did not }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
exercise its statutory power to appoint receivers, which power it did not have on the date of their appointment on the 14th of December, 1987, and in the face of }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid10843422\charrsid13333650 t}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
he Deeds of Appointment this court cannot infer from the mere existence of a power to sell in the debenture that the app}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10843422\charrsid13333650 
ointment was other than by deed.}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10843422\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 The third and final cause of action, namely, trespass may be quickly and shortly disposed of.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10843422\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 By virtue of the deed of appointment the receivers were jointly and severally invested with }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid12259885\charrsid13333650 all the powers,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  authorities and discretions .... under the debenture whether in law or in equity by statute or otherwise}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 .
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10843422\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 By Clause 21(i) of}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10843422\charrsid13333650  }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 the }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11673044\charrsid13333650 debenture,}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650  the receivers were empowered to take possession of collect and get in the whole or any part of the mortgaged premises. Furthermore by (xiv) the receivers could }{\rtlch\fcs1 
\af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
do all such other acts and things without limitation as such Receivers shall think expedient in the interests of the Bank}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 "}{\rtlch\fcs1 \af0\afs24 
\ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 .
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10843422\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
In this regard and in the circumstances of this case the securing and protection of the assets and business premises and records of the companies would have been of primary importance.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid2824364\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid11673044\charrsid13333650 Needless to say, the appointment of the rec
eivers being valid they were deemed to be agents of the companies for whose actions the companies alone were contractually responsible. }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
(See: Proviso to Clause 21). In the circumstances, this cause of action must inevitably fail.
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid10843422\charrsid13333650 
\par }{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 For the foregoing reasons I am of the view that the companies}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 
\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \af0\afs24 \ltrch\fcs0 \fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
 consolidated statement of claim discloses no reasonably arguable cause of action and is therefore struck out with costs. The interim injunction granted on the 7th of June, 1988 is accordingly discharged.
\par 
\par }{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid12259885\charrsid13333650 (}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
Application granted; Plaintiffs}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid2825957\charrsid13333650 '}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid12781729\charrsid13333650 
 Statement of Claim struck out.}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 \i\fs24\lang2057\langfe5129\langnp2057\insrsid12259885\charrsid13333650 )}{\rtlch\fcs1 \ai\af0\afs24 \ltrch\fcs0 
\i\fs24\lang2057\langfe5129\langnp2057\insrsid15016242\charrsid13333650 
\par }{\*\themedata 504b030414000600080000002100828abc13fa0000001c020000130000005b436f6e74656e745f54797065735d2e786d6cac91cb6ac3301045f785fe83d0b6d8
72ba28a5d8cea249777d2cd20f18e4b12d6a8f843409c9df77ecb850ba082d74231062ce997b55ae8fe3a00e1893f354e9555e6885647de3a8abf4fbee29bbd7
2a3150038327acf409935ed7d757e5ee14302999a654e99e393c18936c8f23a4dc072479697d1c81e51a3b13c07e4087e6b628ee8cf5c4489cf1c4d075f92a0b
44d7a07a83c82f308ac7b0a0f0fbf90c2480980b58abc733615aa2d210c2e02cb04430076a7ee833dfb6ce62e3ed7e14693e8317d8cd0433bf5c60f53fea2fe7
065bd80facb647e9e25c7fc421fd2ddb526b2e9373fed4bb902e182e97b7b461e6bfad3f010000ffff0300504b030414000600080000002100a5d6a7e7c00000
00360100000b0000005f72656c732f2e72656c73848fcf6ac3300c87ef85bd83d17d51d2c31825762fa590432fa37d00e1287f68221bdb1bebdb4fc7060abb08
84a4eff7a93dfeae8bf9e194e720169aaa06c3e2433fcb68e1763dbf7f82c985a4a725085b787086a37bdbb55fbc50d1a33ccd311ba548b63095120f88d94fbc
52ae4264d1c910d24a45db3462247fa791715fd71f989e19e0364cd3f51652d73760ae8fa8c9ffb3c330cc9e4fc17faf2ce545046e37944c69e462a1a82fe353
bd90a865aad41ed0b5b8f9d6fd010000ffff0300504b0304140006000800000021006b799616830000008a0000001c0000007468656d652f7468656d652f7468
656d654d616e616765722e786d6c0ccc4d0ac3201040e17da17790d93763bb284562b2cbaebbf600439c1a41c7a0d29fdbd7e5e38337cedf14d59b4b0d592c9c
070d8a65cd2e88b7f07c2ca71ba8da481cc52c6ce1c715e6e97818c9b48d13df49c873517d23d59085adb5dd20d6b52bd521ef2cdd5eb9246a3d8b4757e8d3f7
29e245eb2b260a0238fd010000ffff0300504b03041400060008000000210096b5ade296060000501b0000160000007468656d652f7468656d652f7468656d65
312e786d6cec594f6fdb3614bf0fd87720746f6327761a07758ad8b19b2d4d1bc46e871e698996d850a240d2497d1bdae38001c3ba618715d86d87615b8116d8
a5fb34d93a6c1dd0afb0475292c5585e9236d88aad3e2412f9e3fbff1e1fa9abd7eec70c1d1221294fda5efd72cd4324f1794093b0eddd1ef62fad79482a9c04
98f184b4bd2991deb58df7dfbb8ad755446282607d22d771db8b944ad79796a40fc3585ee62949606ecc458c15bc8a702910f808e8c66c69b9565b5d8a314d3c
94e018c8de1a8fa94fd05093f43672e23d06af89927ac06762a049136785c10607758d9053d965021d62d6f6804fc08f86e4bef210c352c144dbab999fb7b471
7509af678b985ab0b6b4ae6f7ed9ba6c4170b06c788a705430adf71bad2b5b057d03606a1ed7ebf5babd7a41cf00b0ef83a6569632cd467faddec9699640f671
9e76b7d6ac355c7c89feca9cccad4ea7d36c65b258a206641f1b73f8b5da6a6373d9c11b90c537e7f08dce66b7bbeae00dc8e257e7f0fd2badd5868b37a088d1
e4600ead1ddaef67d40bc898b3ed4af81ac0d76a197c86826828a24bb318f3442d8ab518dfe3a20f000d6458d104a9694ac6d88728eee2782428d60cf03ac1a5
193be4cbb921cd0b495fd054b5bd0f530c1931a3f7eaf9f7af9e3f45c70f9e1d3ff8e9f8e1c3e3073f5a42ceaa6d9c84e5552fbffdeccfc71fa33f9e7ef3f2d1
17d57859c6fffac327bffcfc793510d26726ce8b2f9ffcf6ecc98baf3efdfdbb4715f04d814765f890c644a29be408edf3181433567125272371be15c308d3f2
8acd249438c19a4b05fd9e8a1cf4cd296699771c393ac4b5e01d01e5a30a787d72cf1178108989a2159c77a2d801ee72ce3a5c545a6147f32a99793849c26ae6
6252c6ed637c58c5bb8b13c7bfbd490a75330f4b47f16e441c31f7184e140e494214d273fc80900aedee52ead87597fa824b3e56e82e451d4c2b4d32a423279a
668bb6690c7e9956e90cfe766cb37b077538abd27a8b1cba48c80acc2a841f12e698f13a9e281c57911ce298950d7e03aba84ac8c154f8655c4f2af074481847
bd804859b5e696007d4b4edfc150b12addbecba6b18b148a1e54d1bc81392f23b7f84137c2715a851dd0242a633f900710a218ed715505dfe56e86e877f0034e
16bafb0e258ebb4faf06b769e888340b103d3311da9750aa9d0a1cd3e4efca31a3508f6d0c5c5c398602f8e2ebc71591f5b616e24dd893aa3261fb44f95d843b
5974bb5c04f4edafb95b7892ec1108f3f98de75dc97d5772bdff7cc95d94cf672db4b3da0a6557f70db629362d72bcb0431e53c6066acac80d699a6409fb44d0
8741bdce9c0e4971624a2378cceaba830b05366b90e0ea23aaa241845368b0eb9e2612ca8c742851ca251ceccc70256d8d87265dd96361531f186c3d9058edf2
c00eafe8e1fc5c509031bb4d680e9f39a3154de0accc56ae644441edd76156d7429d995bdd88664a9dc3ad50197c38af1a0c16d684060441db02565e85f3b966
0d0713cc48a0ed6ef7dedc2dc60b17e92219e180643ed27acffba86e9c94c78ab90980d8a9f0913ee49d62b512b79626fb06dccee2a432bbc60276b9f7dec44b
7904cfbca4f3f6443ab2a49c9c2c41476dafd55c6e7ac8c769db1bc399161ee314bc2e75cf8759081743be1236ec4f4d6693e5336fb672c5dc24a8c33585b5fb
9cc24e1d4885545b58463634cc5416022cd19cacfccb4d30eb45296023fd35a458598360f8d7a4003bbaae25e331f155d9d9a5116d3bfb9a95523e51440ca2e0
088dd844ec6370bf0e55d027a012ae264c45d02f708fa6ad6da6dce29c255df9f6cae0ec38666984b372ab5334cf640b37795cc860de4ae2816e95b21be5ceaf
8a49f90b52a51cc6ff3355f47e0237052b81f6800fd7b802239daf6d8f0b1571a8426944fdbe80c6c1d40e8816b88b8569082ab84c36ff0539d4ff6dce591a26
ade1c0a7f669880485fd484582903d284b26fa4e2156cff62e4b9265844c4495c495a9157b440e091bea1ab8aaf7760f4510eaa69a6465c0e04ec69ffb9e65d0
28d44d4e39df9c1a52ecbd3607fee9cec7263328e5d661d3d0e4f62f44acd855ed7ab33cdf7bcb8ae889599bd5c8b3029895b6825696f6af29c239b75a5bb1e6
345e6ee6c28117e73586c1a2214ae1be07e93fb0ff51e133fb65426fa843be0fb515c187064d0cc206a2fa926d3c902e907670048d931db4c1a44959d366ad93
b65abe595f70a75bf03d616c2dd959fc7d4e6317cd99cbcec9c58b34766661c7d6766ca1a9c1b327531486c6f941c638c67cd22a7f75e2a37be0e82db8df9f30
254d30c1372581a1f51c983c80e4b71ccdd28dbf000000ffff0300504b0304140006000800000021000dd1909fb60000001b010000270000007468656d652f74
68656d652f5f72656c732f7468656d654d616e616765722e786d6c2e72656c73848f4d0ac2301484f78277086f6fd3ba109126dd88d0add40384e4350d363f24
51eced0dae2c082e8761be9969bb979dc9136332de3168aa1a083ae995719ac16db8ec8e4052164e89d93b64b060828e6f37ed1567914b284d262452282e3198
720e274a939cd08a54f980ae38a38f56e422a3a641c8bbd048f7757da0f19b017cc524bd62107bd5001996509affb3fd381a89672f1f165dfe514173d9850528
a2c6cce0239baa4c04ca5bbabac4df000000ffff0300504b01022d0014000600080000002100828abc13fa0000001c0200001300000000000000000000000000
000000005b436f6e74656e745f54797065735d2e786d6c504b01022d0014000600080000002100a5d6a7e7c0000000360100000b000000000000000000000000
002b0100005f72656c732f2e72656c73504b01022d00140006000800000021006b799616830000008a0000001c00000000000000000000000000140200007468
656d652f7468656d652f7468656d654d616e616765722e786d6c504b01022d001400060008000000210096b5ade296060000501b000016000000000000000000
00000000d10200007468656d652f7468656d652f7468656d65312e786d6c504b01022d00140006000800000021000dd1909fb60000001b010000270000000000
00000000000000009b0900007468656d652f7468656d652f5f72656c732f7468656d654d616e616765722e786d6c2e72656c73504b050600000000050005005d010000960a00000000}
{\*\colorschememapping 3c3f786d6c2076657273696f6e3d22312e302220656e636f64696e673d225554462d3822207374616e64616c6f6e653d22796573223f3e0d0a3c613a636c724d
617020786d6c6e733a613d22687474703a2f2f736368656d61732e6f70656e786d6c666f726d6174732e6f72672f64726177696e676d6c2f323030362f6d6169
6e22206267313d226c743122207478313d22646b3122206267323d226c743222207478323d22646b322220616363656e74313d22616363656e74312220616363
656e74323d22616363656e74322220616363656e74333d22616363656e74332220616363656e74343d22616363656e74342220616363656e74353d22616363656e74352220616363656e74363d22616363656e74362220686c696e6b3d22686c696e6b2220666f6c486c696e6b3d22666f6c486c696e6b222f3e}
{\*\latentstyles\lsdstimax267\lsdlockeddef0\lsdsemihiddendef1\lsdunhideuseddef1\lsdqformatdef0\lsdprioritydef99{\lsdlockedexcept \lsdsemihidden0 \lsdunhideused0 \lsdqformat1 \lsdpriority0 \lsdlocked0 Normal;
\lsdsemihidden0 \lsdunhideused0 \lsdqformat1 \lsdpriority9 \lsdlocked0 heading 1;\lsdqformat1 \lsdpriority9 \lsdlocked0 heading 2;\lsdqformat1 \lsdpriority9 \lsdlocked0 heading 3;\lsdqformat1 \lsdpriority9 \lsdlocked0 heading 4;
\lsdqformat1 \lsdpriority9 \lsdlocked0 heading 5;\lsdqformat1 \lsdpriority9 \lsdlocked0 heading 6;\lsdqformat1 \lsdpriority9 \lsdlocked0 heading 7;\lsdqformat1 \lsdpriority9 \lsdlocked0 heading 8;\lsdqformat1 \lsdpriority9 \lsdlocked0 heading 9;
\lsdpriority39 \lsdlocked0 toc 1;\lsdpriority39 \lsdlocked0 toc 2;\lsdpriority39 \lsdlocked0 toc 3;\lsdpriority39 \lsdlocked0 toc 4;\lsdpriority39 \lsdlocked0 toc 5;\lsdpriority39 \lsdlocked0 toc 6;\lsdpriority39 \lsdlocked0 toc 7;
\lsdpriority39 \lsdlocked0 toc 8;\lsdpriority39 \lsdlocked0 toc 9;\lsdqformat1 \lsdpriority35 \lsdlocked0 caption;\lsdsemihidden0 \lsdunhideused0 \lsdqformat1 \lsdpriority10 \lsdlocked0 Title;\lsdunhideused0 \lsdlocked0 Default Paragraph Font;
\lsdsemihidden0 \lsdunhideused0 \lsdqformat1 \lsdpriority11 \lsdlocked0 Subtitle;\lsdsemihidden0 \lsdunhideused0 \lsdqformat1 \lsdpriority22 \lsdlocked0 Strong;\lsdsemihidden0 \lsdunhideused0 \lsdqformat1 \lsdpriority20 \lsdlocked0 Emphasis;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority59 \lsdlocked0 Table Grid;\lsdunhideused0 \lsdlocked0 Placeholder Text;\lsdsemihidden0 \lsdunhideused0 \lsdqformat1 \lsdpriority1 \lsdlocked0 No Spacing;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority60 \lsdlocked0 Light Shading;\lsdsemihidden0 \lsdunhideused0 \lsdpriority61 \lsdlocked0 Light List;\lsdsemihidden0 \lsdunhideused0 \lsdpriority62 \lsdlocked0 Light Grid;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority63 \lsdlocked0 Medium Shading 1;\lsdsemihidden0 \lsdunhideused0 \lsdpriority64 \lsdlocked0 Medium Shading 2;\lsdsemihidden0 \lsdunhideused0 \lsdpriority65 \lsdlocked0 Medium List 1;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority66 \lsdlocked0 Medium List 2;\lsdsemihidden0 \lsdunhideused0 \lsdpriority67 \lsdlocked0 Medium Grid 1;\lsdsemihidden0 \lsdunhideused0 \lsdpriority68 \lsdlocked0 Medium Grid 2;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority69 \lsdlocked0 Medium Grid 3;\lsdsemihidden0 \lsdunhideused0 \lsdpriority70 \lsdlocked0 Dark List;\lsdsemihidden0 \lsdunhideused0 \lsdpriority71 \lsdlocked0 Colorful Shading;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority72 \lsdlocked0 Colorful List;\lsdsemihidden0 \lsdunhideused0 \lsdpriority73 \lsdlocked0 Colorful Grid;\lsdsemihidden0 \lsdunhideused0 \lsdpriority60 \lsdlocked0 Light Shading Accent 1;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority61 \lsdlocked0 Light List Accent 1;\lsdsemihidden0 \lsdunhideused0 \lsdpriority62 \lsdlocked0 Light Grid Accent 1;\lsdsemihidden0 \lsdunhideused0 \lsdpriority63 \lsdlocked0 Medium Shading 1 Accent 1;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority64 \lsdlocked0 Medium Shading 2 Accent 1;\lsdsemihidden0 \lsdunhideused0 \lsdpriority65 \lsdlocked0 Medium List 1 Accent 1;\lsdunhideused0 \lsdlocked0 Revision;
\lsdsemihidden0 \lsdunhideused0 \lsdqformat1 \lsdpriority34 \lsdlocked0 List Paragraph;\lsdsemihidden0 \lsdunhideused0 \lsdqformat1 \lsdpriority29 \lsdlocked0 Quote;\lsdsemihidden0 \lsdunhideused0 \lsdqformat1 \lsdpriority30 \lsdlocked0 Intense Quote;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority66 \lsdlocked0 Medium List 2 Accent 1;\lsdsemihidden0 \lsdunhideused0 \lsdpriority67 \lsdlocked0 Medium Grid 1 Accent 1;\lsdsemihidden0 \lsdunhideused0 \lsdpriority68 \lsdlocked0 Medium Grid 2 Accent 1;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority69 \lsdlocked0 Medium Grid 3 Accent 1;\lsdsemihidden0 \lsdunhideused0 \lsdpriority70 \lsdlocked0 Dark List Accent 1;\lsdsemihidden0 \lsdunhideused0 \lsdpriority71 \lsdlocked0 Colorful Shading Accent 1;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority72 \lsdlocked0 Colorful List Accent 1;\lsdsemihidden0 \lsdunhideused0 \lsdpriority73 \lsdlocked0 Colorful Grid Accent 1;\lsdsemihidden0 \lsdunhideused0 \lsdpriority60 \lsdlocked0 Light Shading Accent 2;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority61 \lsdlocked0 Light List Accent 2;\lsdsemihidden0 \lsdunhideused0 \lsdpriority62 \lsdlocked0 Light Grid Accent 2;\lsdsemihidden0 \lsdunhideused0 \lsdpriority63 \lsdlocked0 Medium Shading 1 Accent 2;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority64 \lsdlocked0 Medium Shading 2 Accent 2;\lsdsemihidden0 \lsdunhideused0 \lsdpriority65 \lsdlocked0 Medium List 1 Accent 2;\lsdsemihidden0 \lsdunhideused0 \lsdpriority66 \lsdlocked0 Medium List 2 Accent 2;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority67 \lsdlocked0 Medium Grid 1 Accent 2;\lsdsemihidden0 \lsdunhideused0 \lsdpriority68 \lsdlocked0 Medium Grid 2 Accent 2;\lsdsemihidden0 \lsdunhideused0 \lsdpriority69 \lsdlocked0 Medium Grid 3 Accent 2;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority70 \lsdlocked0 Dark List Accent 2;\lsdsemihidden0 \lsdunhideused0 \lsdpriority71 \lsdlocked0 Colorful Shading Accent 2;\lsdsemihidden0 \lsdunhideused0 \lsdpriority72 \lsdlocked0 Colorful List Accent 2;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority73 \lsdlocked0 Colorful Grid Accent 2;\lsdsemihidden0 \lsdunhideused0 \lsdpriority60 \lsdlocked0 Light Shading Accent 3;\lsdsemihidden0 \lsdunhideused0 \lsdpriority61 \lsdlocked0 Light List Accent 3;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority62 \lsdlocked0 Light Grid Accent 3;\lsdsemihidden0 \lsdunhideused0 \lsdpriority63 \lsdlocked0 Medium Shading 1 Accent 3;\lsdsemihidden0 \lsdunhideused0 \lsdpriority64 \lsdlocked0 Medium Shading 2 Accent 3;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority65 \lsdlocked0 Medium List 1 Accent 3;\lsdsemihidden0 \lsdunhideused0 \lsdpriority66 \lsdlocked0 Medium List 2 Accent 3;\lsdsemihidden0 \lsdunhideused0 \lsdpriority67 \lsdlocked0 Medium Grid 1 Accent 3;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority68 \lsdlocked0 Medium Grid 2 Accent 3;\lsdsemihidden0 \lsdunhideused0 \lsdpriority69 \lsdlocked0 Medium Grid 3 Accent 3;\lsdsemihidden0 \lsdunhideused0 \lsdpriority70 \lsdlocked0 Dark List Accent 3;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority71 \lsdlocked0 Colorful Shading Accent 3;\lsdsemihidden0 \lsdunhideused0 \lsdpriority72 \lsdlocked0 Colorful List Accent 3;\lsdsemihidden0 \lsdunhideused0 \lsdpriority73 \lsdlocked0 Colorful Grid Accent 3;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority60 \lsdlocked0 Light Shading Accent 4;\lsdsemihidden0 \lsdunhideused0 \lsdpriority61 \lsdlocked0 Light List Accent 4;\lsdsemihidden0 \lsdunhideused0 \lsdpriority62 \lsdlocked0 Light Grid Accent 4;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority63 \lsdlocked0 Medium Shading 1 Accent 4;\lsdsemihidden0 \lsdunhideused0 \lsdpriority64 \lsdlocked0 Medium Shading 2 Accent 4;\lsdsemihidden0 \lsdunhideused0 \lsdpriority65 \lsdlocked0 Medium List 1 Accent 4;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority66 \lsdlocked0 Medium List 2 Accent 4;\lsdsemihidden0 \lsdunhideused0 \lsdpriority67 \lsdlocked0 Medium Grid 1 Accent 4;\lsdsemihidden0 \lsdunhideused0 \lsdpriority68 \lsdlocked0 Medium Grid 2 Accent 4;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority69 \lsdlocked0 Medium Grid 3 Accent 4;\lsdsemihidden0 \lsdunhideused0 \lsdpriority70 \lsdlocked0 Dark List Accent 4;\lsdsemihidden0 \lsdunhideused0 \lsdpriority71 \lsdlocked0 Colorful Shading Accent 4;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority72 \lsdlocked0 Colorful List Accent 4;\lsdsemihidden0 \lsdunhideused0 \lsdpriority73 \lsdlocked0 Colorful Grid Accent 4;\lsdsemihidden0 \lsdunhideused0 \lsdpriority60 \lsdlocked0 Light Shading Accent 5;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority61 \lsdlocked0 Light List Accent 5;\lsdsemihidden0 \lsdunhideused0 \lsdpriority62 \lsdlocked0 Light Grid Accent 5;\lsdsemihidden0 \lsdunhideused0 \lsdpriority63 \lsdlocked0 Medium Shading 1 Accent 5;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority64 \lsdlocked0 Medium Shading 2 Accent 5;\lsdsemihidden0 \lsdunhideused0 \lsdpriority65 \lsdlocked0 Medium List 1 Accent 5;\lsdsemihidden0 \lsdunhideused0 \lsdpriority66 \lsdlocked0 Medium List 2 Accent 5;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority67 \lsdlocked0 Medium Grid 1 Accent 5;\lsdsemihidden0 \lsdunhideused0 \lsdpriority68 \lsdlocked0 Medium Grid 2 Accent 5;\lsdsemihidden0 \lsdunhideused0 \lsdpriority69 \lsdlocked0 Medium Grid 3 Accent 5;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority70 \lsdlocked0 Dark List Accent 5;\lsdsemihidden0 \lsdunhideused0 \lsdpriority71 \lsdlocked0 Colorful Shading Accent 5;\lsdsemihidden0 \lsdunhideused0 \lsdpriority72 \lsdlocked0 Colorful List Accent 5;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority73 \lsdlocked0 Colorful Grid Accent 5;\lsdsemihidden0 \lsdunhideused0 \lsdpriority60 \lsdlocked0 Light Shading Accent 6;\lsdsemihidden0 \lsdunhideused0 \lsdpriority61 \lsdlocked0 Light List Accent 6;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority62 \lsdlocked0 Light Grid Accent 6;\lsdsemihidden0 \lsdunhideused0 \lsdpriority63 \lsdlocked0 Medium Shading 1 Accent 6;\lsdsemihidden0 \lsdunhideused0 \lsdpriority64 \lsdlocked0 Medium Shading 2 Accent 6;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority65 \lsdlocked0 Medium List 1 Accent 6;\lsdsemihidden0 \lsdunhideused0 \lsdpriority66 \lsdlocked0 Medium List 2 Accent 6;\lsdsemihidden0 \lsdunhideused0 \lsdpriority67 \lsdlocked0 Medium Grid 1 Accent 6;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority68 \lsdlocked0 Medium Grid 2 Accent 6;\lsdsemihidden0 \lsdunhideused0 \lsdpriority69 \lsdlocked0 Medium Grid 3 Accent 6;\lsdsemihidden0 \lsdunhideused0 \lsdpriority70 \lsdlocked0 Dark List Accent 6;
\lsdsemihidden0 \lsdunhideused0 \lsdpriority71 \lsdlocked0 Colorful Shading Accent 6;\lsdsemihidden0 \lsdunhideused0 \lsdpriority72 \lsdlocked0 Colorful List Accent 6;\lsdsemihidden0 \lsdunhideused0 \lsdpriority73 \lsdlocked0 Colorful Grid Accent 6;
\lsdsemihidden0 \lsdunhideused0 \lsdqformat1 \lsdpriority19 \lsdlocked0 Subtle Emphasis;\lsdsemihidden0 \lsdunhideused0 \lsdqformat1 \lsdpriority21 \lsdlocked0 Intense Emphasis;
\lsdsemihidden0 \lsdunhideused0 \lsdqformat1 \lsdpriority31 \lsdlocked0 Subtle Reference;\lsdsemihidden0 \lsdunhideused0 \lsdqformat1 \lsdpriority32 \lsdlocked0 Intense Reference;
\lsdsemihidden0 \lsdunhideused0 \lsdqformat1 \lsdpriority33 \lsdlocked0 Book Title;\lsdpriority37 \lsdlocked0 Bibliography;\lsdqformat1 \lsdpriority39 \lsdlocked0 TOC Heading;}}{\*\datastore 010500000200000018000000
4d73786d6c322e534158584d4c5265616465722e352e3000000000000000000000060000
d0cf11e0a1b11ae1000000000000000000000000000000003e000300feff090006000000000000000000000001000000010000000000000000100000feffffff00000000feffffff0000000000000000ffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffff
ffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffff
ffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffff
ffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffff
fffffffffffffffffdfffffffeffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffff
ffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffff
ffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffff
ffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffff
ffffffffffffffffffffffffffffffff52006f006f007400200045006e00740072007900000000000000000000000000000000000000000000000000000000000000000000000000000000000000000016000500ffffffffffffffffffffffffec69d9888b8b3d4c859eaf6cd158be0f0000000000000000000000002046
796dae04d101feffffff00000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000ffffffffffffffffffffffff00000000000000000000000000000000000000000000000000000000
00000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000ffffffffffffffffffffffff0000000000000000000000000000000000000000000000000000
000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000ffffffffffffffffffffffff000000000000000000000000000000000000000000000000
0000000000000000000000000000000000000000000000000105000000000000}}