Read the full judgment text of HCCW 000202/1986 on BabelCite. This High Court CFI judgment was delivered on 26 February 1993 before Jones J..
Companies winding-up – proof of debt – security for loans – letters of lien – equitable mortgage by deposit – interpretation of contract – whether deposits in names of third parties secure loans – court held deposits were separate and independent – proof admitted – costs nisi.
Legal issues: Scope of security for loans
Outcome: Application allowed; applicants' proof of debt admitted.