Enforcing Acquired Loans – Two Victories For Acquirers

Two recent judgments have brought further clarity in relation to the rights acquirers of loan portfolios to enforce against borrowers:

• In Stapleford Finance Limited -v- Lavelle,¹ the Court found that where the plaintiff is substituted in enforcement proceedings, the defendant is not entitled to defend the proceedings on the basis that new proceedings were deemed to come into existence on the date of the substitution and were therefore statute barred.
• In Ennis Property Finance Limited  -v- Hynes & Anor.,² the Plaintiff obtained judgment following a full plenary hearing. The judgment sets out a useful roadmap for further proceedings.

Stapleford Finance Limited -v- Lavelle