20 Apr 2007
S SHANKLAND & ANOR V NUMERIA FINANCE LIMITED A DULY INCORPORATED COMPANY HAVING ITS REGISTERED OFFICE AT LEVEL 1, 237 TAMAKI DRIVE, KOHIMARAMA, AUCKLAND, FINANCIERS HC AK CIV2006-404-5919
- Citation
- openlaw-ac523036_4993_4d72_a2dc_d20757660b6a.pdf
- Court
- High Court
The judgment debt ($219,990.65) substantially exceeded the value of any remaining securities held by Numeria: the boat had been realised pre-judgment and applied to the claim, and the aggregate value of remaining possible securities (Porsche, indemnity, recourse) falls well short of the debt. Numeria satisfied the s25 threshold that the debt exceeds security by at least $200, and no other sufficient reason existed under s26 to refuse adjudication; accordingly the Court adjudged the debtors bankrupt.