I would venture to say that Spedding and Margaret's savings was not enough.
The court heard Spedding and his wife Margaret have offered “their savings” of $100,000 in surety that the Crown says is “generous” but “insufficient to satisfy the bail concerns.”
We’re for Sydney | Daily Telegraph
I think the Telegraph has put parts of the judge's actual words in quotes in their article.
However, $100,000 is still a bucket load of "savings" for a country handyman who had applied for legal aid. imo
Wonder if that $100,000 has been released now. He may be using it to pay his defamation case lawyers. Or he may be in jail. Who knows??