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ARTICLE · 25 APRIL 2018

Finance Litigation: The Latest Cases And Issues In April 2018

Gowling WLG
Gowling WLG
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The Court of Appeal has recently provided useful clarification that a lender entering into a consent order does not amount to the regulated activity of administering a regulated mortgage.

United KingdomFinance and Banking
Ian Weatherall
Ian Weatherall
Turon Miah
Turon Miah
Jane Bates
Jane Bates
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Gowling WLG's finance litigation experts consider consent orders in the context of a regulated activity, when a discharged bankrupt is still liable for bankruptcy debts and whether a deed of assignment pre or post-dated a winding up petition.

Some clarity on 'administering' a registered mortgage contract

The Court of Appeal has recently provided useful clarification that a lender entering into a consent order does not amount to the regulated activity of administering a regulated mortgage.

In Fortwell Finance Ltd v Halstead and Halstead, the claimant lender advance the sum of £2.36 million to the defendant borrowers for a fixed one year term. The loan was secured on a property owned by the defendants which was being converted from three flats to a single dwelling house. It was a special condition of the loan that the borrowers, nor their family, intended to occupy the property as a dwelling. The defendants completed the application form indicating that no one

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