The court considered a motion for an interlocutory proprietary injunction and leave to issue a certificate of pending litigation (CPL) over three development properties.
The Applicants advanced $16 million to the Respondents for property purchases, claiming a common intention that the properties would stand as security.
The Respondents argued the advances were loans or investments without property interests.
The court found a serious issue to be tried regarding an equitable mortgage and unjust enrichment, granted injunctions over two properties, and a limited injunction over the third to allow refinancing.
The court also found that, if necessary, a CPL would be granted.