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High Court grants interlocutory order restraining a borrower and a person in occupation of the secured property from interfering with the work of a receiver, on the grounds that: (a) the mortgage included a negative pledge expressly preventing the borrower from disposing of an interest in the land without the consent of the mortgagee; (b) the borrower did not dispute the entitlement of the receiver; and (c) the person in occupation of the property had put forward a claim to an interest in the property that was vague and unconvincing.
Mortgage - negative pledge - transfer of mortgage to new institution - appointment of receiver in 2020 - application for order restraining borrower from interfering in receivership - borrower bankrupt - property occupied by purported nephew of borrower - claim that borrower had transferred interests to third party - pledge against borrower disposing of land without written consent of mortgagee.
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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