Bank is entitled to enforce security by sale of property

High Court – banking law – defendants were registered co-owners of a property in Dublin – Court had previously held that the first defendant’s interest in the property stood charged with a debt in a specified sum, which was owing by the first defendant to the bank – the second defendant’s interest in the property had not been charged with the debt – the bank sought to recover the debt by way of an order for sale of the property – legal principles – Court noted that the making of an order for sale adversely affects the property rights of the non-debtor co-owner – Court noted that the property was not the family home of the two defendants – Court was satisfied that the defendants were residing at a different address – Court satisfied that an order for the sale of the property would be unlikely to render the defendants homeless – second defendant had executed a guarantee in respect of the loans taken out by the first defendant – Court had previously held in the principal judgment that the guarantee was not supported by the grant of an equitable mortgage over his share of the property – just and equitable to make an order for sale and that the bank be entitled to enforce its security as against the first defendant’s interest in the property.