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The High Court has refused a family's request to stay a receivership, which would have allowed them to remain in their dwelling under the "Mortgage to Rent" scheme or until their mortgagee could enforce its security and sell the property. The family had failed to keep up with mortgage payments, and their debt may now exceed the dwelling's value. The court found insufficient evidence to justify a stay on the receiver's obligations, as the family did not demonstrate a realistic prospect of availing themselves of the "Mortgage to Rent" scheme or that the 2010 order, which linked the dwelling to proceeds of crime, now caused an injustice. The court also dismissed the Bureau's application for a disposal order for the net proceeds of an intended sale by the receiver, as it related to a non-existent asset.
receivership, proceeds of crime, Mortgage to Rent scheme, interlocutory order, High Court, injustice, dwelling, enforcement, receiver's powers, Proceeds of Crime Act 1996, Constitution of Ireland, Article 40.5, European Convention on Human Rights, proportionality, statutory regime, disposal order, negative equity, mortgage debt, Mars Capital Finance Ireland DAC, EBS Building Society, Criminal Assets Bureau, statutory bar.
Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.
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