Interlocutory injunction granted to restrain sale of mortgaged residential property pending sale and calculation of proceeds from farmlands

The High Court granted an interlocutory injunction to the plaintiff, one of two mortgagors, restraining the defendants (a receiver and a finance company as mortgagee) from selling a tenanted residential property (the Bungalow) in Offaly until after the sale and calculation of net proceeds from adjacent farmlands also subject to the mortgage. The court found that while the defendants were entitled to sell the properties to recover a substantial unpaid loan, simultaneous sales could risk unnecessary loss to the plaintiff if sale of the farmlands alone would suffice to clear the debt. The court criticised the sale process as lacking in various respects—such as clarity on occupancy, missed opportunities for vacant possession, and insufficient engagement with the plaintiff—but stopped short of prohibiting all sales or micromanaging the process. The court determined that once the proceeds from the farmlands' sale are known, the necessity of selling the Bungalow should be reconsidered, and the plaintiff should have an opportunity to pay any remaining shortfall before a further sale proceeds.