13 Feb 2008
A N HOLDGATE V BLOCASSA LIMITED AND ANOR HC AK CIV 2005-404-002693
- Citation
- openlaw-11a99219_7755_4f08_b3b7_e5cd61b453e5.pdf
- Court
- High Court
The phrase 'the debts of the bankrupt' in s119(1)(b) refers to debts admitted by the Assignee under s89 and does not include post-adjudication interest which is not provable except as permitted by s87/s94; accordingly post-adjudication interest is not a prerequisite to satisfy the threshold for annulment, but annulment will not be granted here because the bankrupt failed to demonstrate the source and independence of proposed third-party funds and has not cooperated, so the application is adjourned pending resolution of appeals and further proof.