Courts / Dublin / Report

Couple who went on a "spending spree" have claim over invalid receiver dismissed

Summary

In a 2014 High Court case, Anthony Freeman and his wife Miriam Freeman, who had borrowed €1.4 million from Bank of Scotland Ireland (BoSI) in 2006 to refinance and refurbish six Dublin houses, claimed that BoSI had not validly appointed a receiver over their assets when they went into arrears in 2009. They argued that BoSI had been dissolved, that its successor Bank of Scotland plc (BoS) had transferred mortgages to a third party through securitisation, and that the registration of title had never been completed under the Registration of Title Act 1964. The Freemans also alleged they were overcharged €20,700 in interest, which they said contributed to their default. The court dismissed all claims, finding the Freemans failed to prove any of the issues, that BoS had properly secured the loans, and that the overcharging was offset by a surplus of about €600,000 that the Freemans could have used to reduce the principal.

Who, what, where, when and why

What: Report matter: Couple who went on a "spending spree" have claim over invalid receiver dismissed. Procedural stage: hearing_or_decision

When:

• 2014-05-29 Publication

Why: They claimed the receiver was invalidly appointed because BoSI had been dissolved. CNI source report

Places mentioned

Topics

Stage Hearing Or Decision

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Read the original CNI report