High Court, in a case where a well-charging order was granted in November 1999 but the premises were not sold until March 2013, determines that the plaintiff, a secured creditor, was entitled to all of the interest accrued to date on the principal moneys found due under the well charging order, and that the Statute of Limitations did not limit him to six years' arrears of interest on that sum.
Well charging order – Statute of Limitations – on 15th November 1999, the Court made a well charging order and directed the sale of certain lands and premises - said lands and premises were not finally sold until March 2013 – proceeds of that sale, amounting to €280,000, were afterwards lodged in court - Assistant Examiner sought directions from the Court as to whether interest on the principal sum and costs that were found to be well charged on the property concerned runs to the date of payment out of court of the sale proceeds, as the order recites on its face, or is limited to six years' arrears of interest on those moneys by operation of the Statute of Limitations 1957 – plaintiff brought a motion seeking an order directing the Examiner to pay out the principal moneys covered by the well charging order - plaintiff obtained judgment in the sum of Ir£60,500 Ir£60,500 (€76,835) – defendant failed to discharge the judgment debt - plaintiff registered a judgment mortgage against certain property of the defendant - commenced a mortgage suit – Court made a well-charging order and an order for sale of the property in the event of non-payment of the debt - Supreme Court affirmed the Order of the High Court - defendant purported to convey the property into joint names with his son – High Court declared the said conveyance was fraudulent and, hence, void - sale of the property was delayed as defendant’s son issued Circuit Court proceedings - proceedings were dismissed – appeal was dismissed - unsuccessful public auction – premises ultimately sold in March 2013 - whether the plaintiff is entitled to all of the interest accrued to date on the principal moneys found due under the well charging order that was made on the 15th November 1999 or may only recover six years' arrears of interest on that sum, by operation of the terms of s. 11 (6) (b) the Statute – statute of limitations - difference between our law and that of England and Wales - proper construction and application of s. 11 (6) (b) of the Statute - unlikely that the legislature intended to impose any time limit on firstly, the right of a plaintiff to enforce a well charging order, secondly, its rights to take such steps as may prove necessary to enforce that order or thirdly, its right to recover interest on the monies outstanding on foot of such order - plaintiff in this case is a secured creditor – entitled to the interest.