||All England Reporter
|| All ER (D) 151 (Apr)
|| UKPC 16
Lady Hale, Lord Sumption, Lord Carnwath, Lord Hughes and Lord Hodge
||Michael Hylton QC, Kevin Powell and Shanique Scott (instructed by Sheridans) for JMMB.
||Peter Knox QC and Dr Lloyd Barnett (instructed by MA Law (Solicitors) LLP) for the REB.
||20 April 2015
Mortgage - Charge - Priority - Respondent Real Estate Board bringing proceedings seeking declaration that its charge ranking in priority to appellant bank's charge - Appellant seeking declaration that respondent's charge being void against it because particulars of charge not being registered at Companies Office - Judge finding respondent's charge being valid and ranking in priority to appellant's mortgage - Appellant's appeal being dismissed - Whether charge in favour of respondent only being valid if registered - Whether, and to what extent, charge in favour of regulated financial institution ranking pari passu with respondent's charge.
Mortgage Charge. The appeal was concerned with the interpretation of s31 of the Real Estate (Dealers and Developers) Act 1987 (REDDA). The Privy Council held that a charge which a vendor created in favour of the respondent Real Estate Board, under s31(4) of REDDA, was valid without its registration in the Companies Register. Further, s31(5) of REDDA conferred the ranking on the charge and not on the sums secured by a more general charge which the authorised financial institution could prove to have been advanced to fund such construction and works.
- An Official transcript is the final version of the judgment prepared by shorthand writers. LexisLibrary contains all judgments from the High Court and aboveView Judgment
- Commentary discussing this particular case from LexisLibrary's comprehensive range of titles including Butterworths, Halsbury's and TolleyView related commentary
- The All England Law Reports comprises judgments with headnotes and catchwords indicating the area of law and key issues of the case prepared by legally qualified editorsFind AllER Reports
- Cases related to this particular case that are related to, or discuss this caseView related cases