- English
-
Legal Services
Fiduciary Services
- AIFM & UCITS Management Company Services
- Accounting, Tax & Agency Services
- Commodity Pool Operator Services
- Company Secretarial & Board Support Services
- Conflict Review & Advisory Services
- Directorship Services
- Facilities Agent Services
- Permanent Office Solutions
- Power of Attorney & Proxy Agent Services
- Private Client Services
- Trustee Services
Fund Services
Regulatory & Compliance
-
Americas and Caribbean
Europe
-
PUT YOUR CAREER INTO GEAR
-
Maples Group Moves to New London Office with a focus on Clients, People and Collaboration
24 Apr 2024Maples Group Sponsors Rugby Club Luxembourg, Fostering Shared Values of Excellence, Teamwork, and Community
23 Apr 2024Maples Group Recognised as Offshore Firm of the Year Including Six Standout Asia Deals of the Year
18 Apr 2024Maples Group Launches UK Liquidations Services
10 Apr 2024 -
ICLG Aviation Law 2024: Cayman Islands
11 Apr 2024
Industry Updates
Court of Appeal confirms that a Receiver does not require a Court Order for taking Possession of a Mortgaged Property
01 Feb 2024
What You Need to Know
a) A recent decision of the Court of Appeal has clarified that receivers, in contrast to mortgagees, are not required to obtain court orders prior to possessing mortgaged properties in Ireland.
b) This decision is a welcome confirmation for lenders, receivers, and practitioners following the prior High Court decision that had created uncertainty in respect of the established legal requirements.
Background
The Court of Appeal heard the appeal of the High Court decision in the case of Bank of Ireland Mortgage Bank UC v Hade & Anor (the "Hade Case") on 7 December 2023. The earlier decision of the High Court in December 2022 had created confusion in the area of receiver sales of mortgaged property as the trial judge in the High Court had interpreted Section 97 of the Land and Conveyancing Law Reform Act 2009 (the "LCLRA 2009") as applying to both receivers and mortgagees.
Section 97 of the LCLRA 2009 ("Section 97") sets out the statutory criteria for taking possession of mortgaged property. The High Court decision had created uncertainty in respect of the established legal requirements applicable to a receiver when possessing mortgaged property. This then had a knock-on effect on the sale of mortgaged properties by receivers as well as for the subsequent application for the registration of title to these properties by Tailte Éireann. The decision of the Court of Appeal has now clarified the uncertainty created by the High Court decision in the Hade Case.
Related Services
Property
Finance
Related Contacts
Related Articles
-
-
Industry Updates
LMA Guide to the Application of the Sustainability Linked Loan Principles in Fund Finance
22 Mar 2024
-
-
Analysis & Insights
Innovative Construction - Building for a Sustainable Future
19 Mar 2024
-
-
Industry Updates
Cayman Islands Update: Upcoming Fundamental Changes to Beneficial Ownership Regime
12 Mar 2024
-
Technical Publications
Practical Law Commercial Real Estate Global Guide 2024: Ireland
20 Feb 2024
-