The Court of Appeal upheld a mortgage sale to auction purchasers, held the settlement did not extinguish the bank’s power of sale, and confirmed mesne profits.
The error in the case number on the amended Written Statement of Defence is a minor, accidental slip that does not affect the substance of the case; therefore, the document should not be expunged and rectification is sufficient.
The credit facility agreement did not require lump sum disbursement; the Plaintiffs failed to repay the initial drawdown and did not properly request further disbursement, thus were in breach and default notices were valid. No damages or reliefs are available to the Plaintiffs.
Failure to serve a default notice to the mortgagor before sale renders the sale of the mortgaged property null and void. The tribunal's ex-parte judgment without notice does not warrant quashing the proceedings as appellants were not prejudiced and failed to exhaust remedies to set aside the ex-parte order.
The appellants, as guarantors, were contractually and statutorily liable for the borrower's defaulted loan and overdraft facilities. The appointment of a financial controller and the sale of mortgaged property were in accordance with the contract and law. Proper notice of default was served, and the trial court's proceedings and evidence admission were regular. Non-joinder of the borrower did not affect the outcome.
The High Court upheld the sale of mortgaged property after loan default, dismissed the applicant’s land claim, and ordered vacant possession and damages.
The High Court upheld a lender’s claim over a loan secured by a matrimonial home, finding a valid mortgage, proper default notice, and ordering sale, interest, and costs.
The High Court upheld a lender’s claim over a defaulted loan secured by a matrimonial home, finding the loan, mortgage, spousal consent, and notice requirements satisfied.