“…The next authority is Halvanon Insurance Co Ltd v. Central Reinsurance Corporation and Another [1988] 1 WLR 1122, a decision of Hobhouse J (as he then was). Pearlberg was cited but Sherratt was not. In Halvanon, the defendants obtained from this court leave to defend the …”
“…ill the judgment debtor’s money, although the judgment creditor is entitled to treat it as security: see Halvanon Insurance Co Ltd v. Central Reinsurance Corpn [1988] 1 WLR 1122, 1126, 1127, per Hobhouse J. Thus the sum of £150,000 paid into court by MWP was MWP’s property, subject to [the AP’s] security interest, and the sum of £166,0…”