Value of secured property
Value of secured property
- 1993
- Estates Gazette Case Summaries (1993) EGCS 75(1) (1/5/93) .
"Platts v Western Trust & Savings Ltd" CA 1 April 1993. Lenders were enforcing their debt by bankruptcy proceedings and produced a valuation of the property, which was security for the loan. The debtor claimed this valuation was too low and that the debt was fully secured. In the absence of proper valuation evidence, however, the application was dismissed. CA upheld this decision.
ADJOURNMENT
EVIDENCE
INSOLVENCY ACT 1986 S271(1)
INSOLVENCY RULES 1986
OPEN MARKET VALUE
SECURED CREDITOR
SECURED LOAN
SECURITY
SURVEYORS
Valuation
"Platts v Western Trust & Savings Ltd" CA 1 April 1993. Lenders were enforcing their debt by bankruptcy proceedings and produced a valuation of the property, which was security for the loan. The debtor claimed this valuation was too low and that the debt was fully secured. In the absence of proper valuation evidence, however, the application was dismissed. CA upheld this decision.
ADJOURNMENT
EVIDENCE
INSOLVENCY ACT 1986 S271(1)
INSOLVENCY RULES 1986
OPEN MARKET VALUE
SECURED CREDITOR
SECURED LOAN
SECURITY
SURVEYORS
Valuation