Read the full judgment text of HCB 000612/1985 on BabelCite. This HCB judgment.
1. Shortly prior to the hearing of this petition the debtor filed an affirmation both opposing the making of a Receiving Order and also seeking an adjournment thereof. This application was made on three grounds. The first was that the debtor disputed the amount which was being claimed. This ground was not proceeded with as the debtor conceded that he did owe somewhere in the region of $160,000 to the petitioners. The second ground was based upon the so-called 15% rule and the third ground was ba