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Court of Appeal upholds the High Court's decision requiring a company to provide security for the costs of a bank in proceedings concerning the validity of a receiver's appointment and the assignment of loans and security to a finance company. The High Court had found that the bank established a prima facie defense to the company's claims, including challenges to the appointment of a receiver and the assignment of debts. The Court of Appeal also affirmed the amount of security set at €198,147.40, dismissing the appeal on all grounds.
Security for costs, prima facie defense, receiver appointment, loan assignment, Companies Act 2014, mortgage, judgment mortgage, indemnity, contribution, validity of assignment, financial institution, statutory power, Land and Conveyancing Law Reform Act 2009, equitable mortgage, event of default, assignment of liability, quantum of security.
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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