It had long been the case that an equitable mortgage or charge could be created by the deposit of title documents. Such deposit had always been held to give the mortgagee a lien on the land to which the deeds relate as opposed to merely having a lien on the deeds themselves. The Supreme Court…
In the recent High Court case of Eileen Courtney v/s OCM EMRU Debtco DAC , a fund has been ordered by the High Court to provide full details of what it paid for the loan of a specific borrower. The judgment dealt with the borrower’s application to see a copy of the loan purchase agreement…
The legal status of Codes of Conduct had been clarified in the judgment of the Supreme Court in Irish Life and Permanent plc v. Dunne. The High Court recently gave further guidance on the issue in Allied Irish Banks plc v Buckley. The bank brought proceedings against a defaulting mortgagor seeking possession of certain registered land…
Chris Lehane, the Official Assignee (“the OA”), gave a very useful talk this morning to the Association of Personal Insolvency Practitioners on the very technical issues arising on dealing with family homes and investment properties in a bankruptcy. Some of the useful “takeaways” from the talk were the following: The OA has 3 years to…
Given that many of the current “distressed” loans become distressed shortly after the collapse of Lehman Bothers on 15 September 2008, it is no surprise that many borrowers stopped making any payments on various loans around 2010/2011. As a result of many payments ceasing around 2010/2011, it is also no surprise that the Statute of…
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