Read the full judgment text of HCB 000201/1985 on BabelCite. This HCB judgment.
1. This is an application for a Receiving Order. The debtor was a director of a company called Mart Electronics Limited. In this company he held three thousand out of the four thousand shares of $100 each and his wife held the balance of one thousand. The company obtained banking facilities from the petitioner as did the debtor himself in his personal capacity. The company was unsuccessful and the debtor was unable to pay off his personal overdraft which had been granted by the petitioner. As a