vitgeson Ltd. & Anor v O'Brien & Anor [2019] IECA 184 (04 July 2019)

vitgeson Ltd. & Anor v O'Brien & Anor [2019] IECA 184 (04 July 2019)

The assignment of the loans and security to PARL was valid and properly proved; the power to appoint a receiver was contractual and could be exercised prior to registration; and the receiver lawfully acted as agent for the charge holder in marketing the properties.

Citation
[2019] IECA 184
Parties
Plaintiff/appellant: Vitgeson Limited; Plaintiff/appellant: William Farrelly; Defendant/respondent: Tom O'Brien; Defendant/respondent: Promontoria (Arrow) Limited
Jurisdiction
Ireland
Judgment Date
04 July 2019
Procedural Posture
Civil Appeal / Court of Appeal Judgment
Outcome
appeal dismissed
Legal Topics
Assignment of Loans, Appointment of Receiver, Contractual and Statutory Powers, Mortgage Enforcement, Admissibility of Evidence
Banking Law Property Law Civil Procedure Assignment of Loans Appointment of Receiver Contractual and Statutory Powers Mortgage Enforcement Admissibility of Evidence

Case Brief

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Parties

Vitgeson Limited

Plaintiff/appellant

William Farrelly

Plaintiff/appellant

Tom O'Brien

Defendant/respondent

Promontoria (Arrow) Limited

Defendant/respondent

Procedural Posture

Civil Appeal / Court of Appeal Judgment

Legal Issues

  1. 1 Whether the assignment of loan facilities and security from NALM to PARL was valid and properly proved
  2. 2 Whether the appointment of the receiver was valid in the absence of registration of the transfer of mortgages
  3. 3 Whether the receiver had a power of sale and could market the properties prior to registration of the assignment

Ratio Decidendi

The assignment of the loans and security to PARL was valid and properly proved; the power to appoint a receiver was contractual and could be exercised prior to registration; and the receiver lawfully acted as agent for the charge holder in marketing the properties.

Court Disposition

appeal dismissed

Orders

  • judgment for respondents on counter-claim
  • orders for possession of properties to respondents