Argument about the invalidity of receiver’s appointment is moot

Injunction – application to restrain receivers from acting in relation to a commercial property – argue that the fund was not entitled to appoint Receivers and the purported appointment of the Defendants as Receivers was therefore invalid – date of transfer of loan - who had the statutory power to appoint a receiver - continued registration of the bank on the Folio pending completion of the registration of the fund - in the absence of registration, or some other means by which the interest in the charge has been transmitted or is deemed by statute not to require registration that the contractual interest in the charge has not become transferred - law in respect of registration of charges – judicial comity - the power to appoint a receiver is contractual and exists independently of Statute - right to appoint a receiver is effective from the date of execution of the mortgage deed and by logical extension, in the case of a transferred mortgage, from the date of execution of the Deed of transfer - powers and protections conferred by the Registration of Title Act 1964 are engaged by the registration of charge - registration is deemed to be effective from the date on which the application for registration is made – plaintiffs argument fails to recognise the contractual obligations created by the Global Deed of Transfer - transferee had stepped into the shoes of the original mortgagee and acquired all of the enforcement rights previously held by the transferor, both contractual and statutory before the receiver was appointed - law is clear and is not in need of any further clarification – no fair issue to be tried – application for interlocutory injunction refused -