The Society had taken possession of a property in 1989. It located the defendants many years later and sought payment of the excess after deduction of the proceeds of sale, and for interest. The borrowers claimed the debt was expired by limitation under s20. The Society said that the debt was a judgment debt which … Continue reading West Bromwich Building Society v Wilkinson: HL 30 Jun 2005
The trustee in bankruptcy had taken a charge on the property in 1992 to support the bankruptcy in 1988. He sought to enforce it in 2005. The chargor appealed an order which denied he was protected by limitation. Held: The appeal succeeded. Charges under the 1986 Act were unusual in that they were not preceded … Continue reading Doodes v Gotham, Perry: ChD 17 Nov 2005
The bank had obtained a judgement against the defendant, and took a charging order. Nothing happened for more than twelve years, and the defendant now argued that the order and debt was discharged. Held: The enforcement of the charging order by normal means is not barred by section 20(1), and unlike the position under a … Continue reading Yorkshire Bank Finance Ltd v Mulhall and Another: CA 24 Oct 2008
The former bankrupt resisted sale of his property by the trustee, saying that enforcement was barred by limitation. He and his wife bought the property in early 1988, and he was made bankrupt in October 1988. He was dischaged from bankruptcy in October 1991. In December 1990 the court answered an application for the sale … Continue reading Gotham v Doodes: CA 25 Jul 2006
The claimant sought recovery of a shortfall having sold the defendant’s house for a sum insufficient to clear the mortgage debt, and produced two letters which they claimed acknowledged the debt and restarted the limitation period running. The . .
The mortgage deed, which was a second mortgage, did not contain any express covenant to repay the principal sum, but only for monthly interest instalments with no element of capital repayment, since the principal was to be paid from an insurance policy. The property was re-possessed and sold, leaving nothing for the second mortgagee after … Continue reading Scottish Equitable Plc v Thompson and Another: CA 6 Feb 2003
The plaintiffs appealed from an order striking out their claim for want of prosecution. The defendant’s property had been sold by the mortgagees, and the plaintiffs as assignees of their debt sought to recover the balance outstanding from the . .