Security over co-owned property and the creditor's paramount status in recovery proceedings

Discusses the extent to which interests of secured creditors in debt recovery proceedings receive priority over the interests of the coowners of property upon which loans have been secured. Reviews the methods by which coowners may resist recovery at the pre insolvency stage and following the initiation of bankruptcy proceedings, highlighting the factors displacing a creditor's recovery rights under the Trusts of Land and Appointment of Trustees Act 1996, the "fresh start" opportunities for bankrupts and the rules applicable to vulnerable transactions. Examines the arguments for reform and the benefits of New Zealand's exemption for property held for matrimonial occupation and rules based upon the nature of the relationship between the joint owners.