23 Sept 2009
BRIDGECORP LIMITED (IN RECEIVERSHIP) AND (IN LIQUIDATION) V NIELSEN HC AK CIV 2009-404-1060
- Citation
- openlaw-e2b4c95e_b6ed_40ae_89a7_59d66da74adf.pdf
- Court
- High Court
There was jurisdiction to adjudicate. Bridgecorp was not required to disclose a security over property not owned by the debtor; alternatively any omission was cured by s418. Evidence supported that a debt in excess of $1,000 would remain after enforcement of security and possible insurance recovery. No discretionary basis under s37 existed to refuse adjudication; accordingly the debtor was adjudged bankrupt.