14 Oct 2008
THE OFFICIAL ASSIGNEE IN BANKRUPTCY OF THE PROPERTY OF SPENCER V SPENCER & CASH LIMITED HC AK CIV 2008-404-006354
- Citation
- openlaw-848524b2_5834_4914_823f_663eecc73a44.pdf
- Court
- High Court
The mortgage executed within six months of adjudication was an insolvent charge and therefore an irregular transaction; the Assignee validly served a s206 cancellation notice and Spencer & Cash did not object within the statutory period so cancellation operated automatically; the Court has power under s207(1)(a) and s207(2) to order retransfers and ancillary orders to give effect to cancellation, and accordingly ordered retransfer to the Assignee and directed the Registrar‑General to cancel the mortgage entry.