Evans & Anor v Finance-U-Ltd

Evans & Anor v Finance-U-Ltd

The applicant has a real prospect of success in arguing that its security under the bill of sale remains enforceable despite the bankruptcy of one joint debtor, as there is no express or implied term or legal principle to the contrary.

Parties
Respondents: Evans & Anr; Appellant: Finance-U-Limited
Jurisdiction
England and Wales
Judgment Date
25 October 2012
Procedural Posture
Civil Appeal / Permission to Appeal (renewed Application)
Outcome
Permission to appeal granted
Legal Topics
Effect of Bankruptcy on Joint Loan Agreements, Enforcement of Security Under Bill of Sale, Rights of Secured Creditors in Bankruptcy
Bankruptcy Contract Law Consumer Credit Effect of Bankruptcy on Joint Loan Agreements Enforcement of Security Under Bill of Sale Rights of Secured Creditors in Bankruptcy

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Parties

Evans & Anr

Respondents

Finance-U-Limited

Appellant

Procedural Posture

Civil Appeal / Permission to Appeal (renewed Application)

Legal Issues

  1. 1 Whether bankruptcy of one joint debtor precludes enforcement of security against the other under a bill of sale
  2. 2 Whether contractual rights under a joint loan agreement are lost on bankruptcy of one or both debtors

Ratio Decidendi

The applicant has a real prospect of success in arguing that its security under the bill of sale remains enforceable despite the bankruptcy of one joint debtor, as there is no express or implied term or legal principle to the contrary.

Court Disposition

Permission to appeal granted

Orders

  • Permission to appeal granted
  • Applicant undertakes not to seek an order for costs in the event of success on appeal