Ulster Bank v Murphy [2018] NICh 30 (02 February 2021)

Ulster Bank v Murphy [2018] NICh 30 (02 February 2021)

Murphy deposited the land certificates as security for his indebtedness; there is no evidence that any insurance policy was intended as security or as a substitute. The appeal and set aside applications are out of time, no good reason for extension has been offered, and Murphy lacks locus standi as his trustee in bankruptcy disclaimed the appeal. The substituted plaintiff is entitled to enforce the security.

Citation
[2018] NICh 30
Parties
Original Plaintiff/respondent: Ulster Bank; Substituted Plaintiff/respondent: Promontoria (Oyster) Designated Activity Company; Defendant/appellant: Sean Murphy
Jurisdiction
Northern Ireland
Judgment Date
02 February 2021
Procedural Posture
Possession Proceedings (chancery Division, Northern Ireland) / Appeal and Rehearing of Master's Order
Outcome
Appeal dismissed; Master's order affirmed with variation regarding indebtedness calculation.
Legal Topics
Equitable Mortgage, Substitution of Parties, Extension of Time for Appeal, Locus Standi, Disclosure, Possession Order, Bankruptcy Trustee Rights
Property Law Banking Law Bankruptcy Law Equitable Mortgage Substitution of Parties Extension of Time for Appeal Locus Standi Disclosure +2 more

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Parties

Ulster Bank

Original Plaintiff/respondent

Promontoria (Oyster) Designated Activity Company

Substituted Plaintiff/respondent

Sean Murphy

Defendant/appellant

Procedural Posture

Possession Proceedings (chancery Division, Northern Ireland) / Appeal and Rehearing of Master's Order

Legal Issues

  1. 1 Whether the appellant deposited land certificates as security for indebtedness
  2. 2 Whether a permanent health insurance or life policy was intended as security
  3. 3 Whether the appeal and set aside applications are out of time

Ratio Decidendi

Murphy deposited the land certificates as security for his indebtedness; there is no evidence that any insurance policy was intended as security or as a substitute. The appeal and set aside applications are out of time, no good reason for extension has been offered, and Murphy lacks locus standi as his trustee in bankruptcy disclaimed the appeal. The substituted plaintiff is entitled to enforce the security.

Court Disposition

Appeal dismissed; Master's order affirmed with variation regarding indebtedness calculation.

Orders

  • Promontoria substituted as plaintiff/respondent.
  • Respondent to file affidavit of total indebtedness by 5 February 2018.