Financial Services Update: Are You Registered As Charge Holder?

Justice Laffoy concluded obiter dictum (not binding as a precedent but instructive nonetheless) in a recent case that a charge holder cannot exercise its statutory rights, including the ability to enforce a charge over registered land, i.e. land/property which is registered in the Land Registry in Ireland as opposed to the Registry of Deeds, under the Registration of Title Act 1964 unless the charge holder is noted as the owner of that charge in the Land Registry. 

Tom Kavanagh & Bank of Scotland plc - and - Patrick McLaughlin & Roseann McLaughlin [2015] 

An appeal by a husband and wife against the appointment of Tom Kavanagh as receiver over certain properties secured in favour of Bank of Scotland (Ireland) Limited, subsequently merged with Bank of Scotland PLC, was unanimously dismissed by the Supreme Court.