High Court grants a receiver an injunction requiring a defendant landowner to give up possession of lands used as security for a mortgage, on the grounds that there was no issue with the chain of title between the financial institution with whom he took out the mortgage and the financial institution that holds the title presently.
Defendant borrowed monies from financial institution that merged with another financial institution and sold its loan book to a finance company - defendant now owes approximately €2 million to the finance company - defendant entered into a mortgage over his lands as security for his borrowings to the financial institution - plaintiff receiver was appointed to the defendants lands by the financial institution - appointment of the Receiver was duly novated in favour of the finance company by Deed of Novation dated 20th April, 2015 - defendant has refused to give up possession of the lands to the Receiver and as a result the Receiver has brought plenary proceedings seeking injunctions requiring, inter alia, the defendant to give up possession - defendant does not dispute that he borrowed the monies or that he failed to repay those borrowings, but he seeks to challenge the entitlement of the Receiver to the injunction on the grounds inter alia that he has not proved the chain of title to the lands - damages not an adequate remedy - injunctions granted.