The defendant had executed a charge over his property in favour of the claimant. It was an all monies charge and the bank sought to enforce its security in respect of borrowings taken only after the charge. The customer said that the nature of the charge had not been adequately explained to him.
Held: The evidence was to the effect that the defendant had been told that the security applied only to the loan being taken at the time. The bank was ordered to vacate its charge.
MacDuff QC HHJ
[2004] All ER (D) 429
England and Wales
Updated: 22 July 2021; Ref: scu.536637 br>