The moving party sought an order under Rule 45.02 of the Rules of Civil Procedure requiring $1.1 million from the proceeds of the sale of a Hamilton property to be paid into court for interim preservation pending litigation.
The dispute arose from a property investment arrangement between long‑time associates, where the moving party alleged entitlement to a proportionate share of the profits based on funds invested.
The court held that the moving party did not establish a proprietary claim to a specific fund because he was merely an investor and had no proprietary interest in the sale proceeds held in an investment account.
Even if the first branches of the test were met, the balance of convenience did not favour the order as there was no evidence the responding parties intended to dissipate assets or frustrate enforcement of a potential judgment.
The motion was therefore dismissed with costs.