A secured petitioner’s estimate of the value of his property was challenged.
Held: The petitioner’s estimate was made ‘at his own risk’, in that, if at undervalue, he would still be bound by it in the bankruptcy; but that, provided the estimate was ‘real and not a sham’, it was not the function of the court ‘to go into the question what is the true value after the declaration of the estimated value.’
Vaughan Williams LJ
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Cited – Owo-Samson v Barclays Bank Plc, Boyden CA 21-May-2003
The appellant challenged a formal statutory demand which had led to his bankruptcy. The demand had included the anticipated cost of realising the charged property, and also had been inflated to allow for extra costs of dealing the appellant who was . .
Lists of cited by and citing cases may be incomplete.
Updated: 12 May 2022; Ref: scu.182734