Parr v Tiuta International Ltd

Parr v Tiuta International Ltd

The contractual right to interest continued until the sale of the secured property because TIL was exercising its rights under the charge, and the charging order should be varied to reflect the correct sum due, not discharged.

Parties
Appellant and Defendant: Richard Parr; Respondent and Claimant: Tiuta International Limited
Jurisdiction
England and Wales
Judgment Date
12 January 2016
Procedural Posture
Civil Appeal / Judgment on Appeal From Order Refusing Discharge of Charging Order
Outcome
Appeal dismissed in respect of discharge; allowed in respect of variation of charging order.
Legal Topics
Charging Orders, Merger of Judgment and Contractual Rights, Variation of Court Orders, Interest on Judgment Debts
Property Law Contract Law Civil Procedure Charging Orders Merger of Judgment and Contractual Rights Variation of Court Orders Interest on Judgment Debts

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Parties

Richard Parr

Appellant and Defendant

Tiuta International Limited

Respondent and Claimant

Procedural Posture

Civil Appeal / Judgment on Appeal From Order Refusing Discharge of Charging Order

Legal Issues

  1. 1 Whether the contractual right to interest merged with the judgment debt
  2. 2 Whether the charging order was made for an excessive sum
  3. 3 Whether the charging order should be discharged or varied

Ratio Decidendi

The contractual right to interest continued until the sale of the secured property because TIL was exercising its rights under the charge, and the charging order should be varied to reflect the correct sum due, not discharged.

Court Disposition

Appeal dismissed in respect of discharge; allowed in respect of variation of charging order.

Orders

  • Charging order to be varied to reflect the correct sum due (£57,774.72 plus statutory interest).