28 Sept 1994
BANQUE WORMS v. THE MAULE (OWNERS OF THE SHIP)
- Citation
- BANQUE WORMS v. THE MAULE (OWNERS OF THE SHIP)
- Court
- Court of First Instance
- Case number
- HCAJ301/1994
The court held that, under the governing law, a mortgagee's general power of sale cannot be exercised merely because of an event of default other than non-payment unless the mortgage or agreement specifically confers that power or a demand has been made to accelerate payment so that a debt is due; accordingly on 24 August no cause of action existed and the writ and arrest were wrongful.