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Leave to issue execution order is granted in respect of mortgaged properties which are rented out

By: Ciaran Joyce BL

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High Court grants bank an order for leave to issue an execution order, and an order amending the title of the plaintiff in the repossession proceedings, on the grounds that: a) the mortgaged properties remain occupied, and the defendant receives rental income from both properties which he does not remit to the plaintiff bank; and b) even though it is not as a matter of law necessary to amend the title of the plaintiff to the proceedings, such an order will be made.

Banking law – plaintiff seeks an order pursuant to O. 42 r. 24 of the Rules of the Superior Courts granting leave to issue an execution order – order amending the title of the plaintiff from IIB Home Loans Ltd to KBC Bank Ireland Plc – IIB Home Loans changed its name to KBC Mortgage Bank – s. 33 of the Central Bank Act, 1971 – S.I. 125 of the 2009 – properties remain occupied and the defendant receives rental income from both properties which he does not remit to the plaintiff – order that title of the proceedings be amended and that KBC Bank Ireland Plc be substituted for IIB Home Loans Ltd as plaintiff in these proceedings made – leave to issue execution order granted.

Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.

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