Kavanagh & anor -v- McLaughlin & anor [2013] IEHC 453 (30 September 2013)

Kavanagh & anor -v- McLaughlin & anor [2013] IEHC 453 (30 September 2013)

The loans and security interests transferred to Bank of Scotland plc by operation of law on cross-border merger; proper notice of default was served; the receiver was validly appointed by a duly authorised officer; and non-registration of charges in the name of Bank of Scotland plc does not preclude enforcement. The plaintiffs are entitled to judgment and declaratory relief.

Citation
[2013] IEHC 453
Parties
First Plaintiff: Tom Kavanagh; Second Plaintiff: Bank of Scotland plc; First Defendant: Patrick McLaughlin; Second Defendant: Roseann McLaughlin
Jurisdiction
Ireland
Judgment Date
30 September 2013
Procedural Posture
Civil / High Court Judgment
Outcome
Judgment for the plaintiffs
Legal Topics
Receiver Appointment Validity, Cross Border Mergers, Transfer of Security Interests, Mortgage Enforcement, Delegation of Authority, Registration of Charges
Banking Law Property Law Company Law Receiver Appointment Validity Cross Border Mergers Transfer of Security Interests Mortgage Enforcement Delegation of Authority +1 more

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Parties

Tom Kavanagh

First Plaintiff

Bank of Scotland plc

Second Plaintiff

Patrick McLaughlin

First Defendant

Roseann McLaughlin

Second Defendant

Procedural Posture

Civil / High Court Judgment

Legal Issues

  1. 1 Whether the appointment of the receiver was valid
  2. 2 Whether the loans and security interests transferred to Bank of Scotland plc on merger
  3. 3 Whether the necessary procedures for default and enforcement were complied with

Ratio Decidendi

The loans and security interests transferred to Bank of Scotland plc by operation of law on cross-border merger; proper notice of default was served; the receiver was validly appointed by a duly authorised officer; and non-registration of charges in the name of Bank of Scotland plc does not preclude enforcement. The plaintiffs are entitled to judgment and declaratory relief.

Court Disposition

Judgment for the plaintiffs

Orders

  • Declaration that Tom Kavanagh is validly appointed as receiver
  • Judgment for Bank of Scotland plc against the defendants in the sum of €4,022,734.92