8 May 2009
MR & J LYNCH V CD MAIN HC PMN CIV 2008-454-285
- Citation
- openlaw-7d434629_1e0b_4fee_9b09_74bc41fd0f3e.pdf
- Court
- High Court
The charging order registered over the debtor's interest in the jointly owned property constituted a security such that the creditors were secured creditors; the only valuation evidence showed the debtor's half equity (~$39,688) exceeded the admitted balance debt ($31,652.50) so the debt did not exceed the value of the charge by $1,000 as required by s14, and accordingly the court was obliged to refuse adjudication and dismissed the application.