Why bail out failed banks?

edwinac_2

Here is Justice Briggs' full decision on the legality of non-judicial foreclosure in his judgment of Horsham Properties Group Ltd v Clark & Anor [2008] EWHC 2327 (Ch)

This judgment follows the trial of a claim by Horsham Properties Group Ltd ("Horsham") of a claim for possession of premises known as 119 Walderslade Road, Chatham, Kent, of which the claimant is the present registered proprietor.

The main issue which I have to decide, which has potentially wide-ranging implications, is whether section 101 of the Law of Property Act 1925 ("the LPA"), construed as it and its predecessors have been since 1860, infringes the Convention rights of mortgagors (and residential mortgagors in particular) by permitting mortgagees to overreach the mortgagor's rights in relation to the mortgaged property by selling it out of court, without first obtaining a court order for possession, or an order for sale......

http://www.bailii.org/ew/cases/EWHC/Ch/2008/2327.html