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Funds held in trust from property sale released to applicant due to mortgage debt exceeding property value.
The applicant brought an application to delete a temporary restraining order and caution on a property.
The court previously allowed the property to be sold, with $200,000 held in trust pending further submissions.
The court found that the respondent owed more on the mortgages than the property was worth, and the sale proceeds were insufficient to satisfy the amounts owing to the applicant.
The court ordered the $200,000 released to the applicant.
