Appeals court affirms mortgagees owe no duties towards unsecured creditors under English law
UK High Court (Credit: iStock.com/AngelinaDimitrova)
GRR takes a look back at a Court of Appeal of England and Wales decision affirming that mortgagees who sell property in the context of a bankruptcy are not obliged to consider the claims of unsecured creditors without a recognised interest in the property – even if the proceeds of the sale might affect their chances of getting paid.
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