Mortgage subrogation
Mortgage subrogation
- 1998
- Estates Gazette Case Summaries [1998] EGCS 36 (14/03/98) .
"Banque Financiere de la Cite v Parc (Battersea) Ltd and others" HL 26 February 1998. Two lenders making successive advances secured on borrowers land - second lender an associated company of borrowing company - appellant bank making third loan for purpose of reducing borrowers indebtedness to first lender - appellant taking no security but acting on strength of postponement letter issued on behalf of second lender and others - borrower defaulting - whether appellant partly subrogated to position of first lender - whether second lender would otherwise be unjustly enriched at expense of appellant. (HEADNOTE FROM JOURNAL)
BANQUE FINANCIERE DE LA CITEV PARC (BATTERSEA) LTD AND OTHERS
MORTGAGES
SUBROGATION
"Banque Financiere de la Cite v Parc (Battersea) Ltd and others" HL 26 February 1998. Two lenders making successive advances secured on borrowers land - second lender an associated company of borrowing company - appellant bank making third loan for purpose of reducing borrowers indebtedness to first lender - appellant taking no security but acting on strength of postponement letter issued on behalf of second lender and others - borrower defaulting - whether appellant partly subrogated to position of first lender - whether second lender would otherwise be unjustly enriched at expense of appellant. (HEADNOTE FROM JOURNAL)
BANQUE FINANCIERE DE LA CITEV PARC (BATTERSEA) LTD AND OTHERS
MORTGAGES
SUBROGATION