Tenants obtained a charging order against their landlord, and, after his bankruptcy, incurred substantial costs defending their charge against other claimants. The trustee declined to allow payment of the costs.
Held: The costs were properly payable under the Act. The charge operated also as an equitable charge, and such a charge would carry the costs of defending the chargee’s rights. A charging order covers not only the judgment debt, but also future interest on the debt and ‘all costs charges and expenses reasonably and properly incurred in enforcing or preserving (the) security.’
Citations:
Gazette 08-Dec-1999, [2001] 1 All ER 473, [1999] EWHC Ch 189
Links:
Statutes:
Charging Orders Act 1979 1(1) 3(4)
Jurisdiction:
England and Wales
Cited by:
Cited – Owo-Samson v Barclays Bank Plc, Boyden CA 21-May-2003
The appellant challenged a formal statutory demand which had led to his bankruptcy. The demand had included the anticipated cost of realising the charged property, and also had been inflated to allow for extra costs of dealing the appellant who was . .
Lists of cited by and citing cases may be incomplete.
Land, Insolvency
Updated: 19 May 2022; Ref: scu.81437