92. National Westminster v Morgan [1985] AC 686 by Will Chen 2.I or your money back Check out our premium contract notes! - but doesn't want them to do that. Here's a classic example of the false and self-deluding nonsense that passes for peace efforts in the Holy Land. It is not said that any evidence as to the availability of funding beyond what was stated in the letters was provided to the bank before or on 14th July 2011. I have been told you have gone to a solicitor in the past----, MR JUSTICE MORGAN: ----you do not have to tell me, but are you intending to go back to the same person----. I will consider the effect of these contracts without regard to the impact of section 91(2) and the I will consider the possible impact of the statutory provision. With a mandatory order you have to put in a time and date, but I am going to do that. I note that your letter is silent on these points. There are other provisions which may perhaps be useful in connection with a proposed sale by a Receiver but it is not necessary to refer to them in this judgment. 86. If Mr Hunter could not perform that contract, making title free from the charge, then he would be in breach of contract and would be liable to be sued in damages by the buyer. [1991] 2 AC 93, [1991] 3 All ER 41, [1991] 2 WLR 1177. The Court will simply not tolerate that conduct continuing. I was referred to a further authority on the operation of the sub-section, namely Cheltenham and Gloucester Plc v. Krausz [1997] 1 WLR 1558. MR JUSTICE MORGAN: Which bit of it do you want to appeal? You are able to go to a Lord Justice and say to the Lord Justice what you want to say, but I do not give you permission to appeal. 32. Under section 12(3) it is open to the bank to serve a particular notice which if it is not complied with will entitle them to sell the goods, namely the cattle. There is no application before me today for any relief in relation to what happened in relation to Kirkdene and it is not necessary for me to go into that matter any further or say anything about it. The Court of Appeal was in no doubt that in a case where everyone agreed the property should be sold that it was not appropriate to use the jurisdiction of section 91(2) to override the mortgagee's exercise of its power of sale. Mr Hunter has put before me a written argument prepared for him by solicitors whom he has consulted which puts forward the rival point of view. So if the amount which remains charged on the property is between 2.5 million and 3 million it is clear that Mr Hunter would not be able to take advantage of a contract to sell for 930,000 without the intervention of the Court. The charge of 6th July 2006 is in relation to property described as land and buildings at Manor Farm, Pitchcott, Aylesbury, Land Registry title number BM195811, and the charge dated 12th April 2007 relates to land at Kirkdene, Pitchcott, Aylesbury, Land Registry title number BM126848. This time the contracts provide for the property to be sold for 1.55 million, but the debt secured by the charge over the properties is again, roughly speaking, 2.5 million to 3 million. The defendant bought a house on mortgage with her husband. They are in essentially the same terms, save that they relate to different parcels of land. 35. Contains public sector information licensed under the Open Government Licence v3.0. MR JUSTICE MORGAN: All right. 50. Having done that, Mr Hunter entered into two contracts of sale, one relating to a small area of land at Kirkdene for 7,500 and the other relating to the bulk of the land at a price of 922,500. The letter does refer to "a formal offer of finance" which suggests that something in written form and in more detail did exist by 29th July 2011. MR JUSTICE MORGAN: In practical terms one of the real, real problems about appeals is the transcript of the judgment. Southwark Crown Court. So that is as much as I think I can indicate on that. In 1989 they granted a charge by way of legal mortgage over the property in favour of the appellant bank (N). The definition continues but it is not necessary for me to read it out. The position under the auction contract is radically different. Taxpayer stake in Natwest reduced again as government sells shares. NATIONAL WESTMINSTER BANK PLC NWBD Company page - Search stock, chart, recent trades, company information, trading information, company news, fundamentals. This decision, together with an academic article written by Roy Goode, [1] is sometimes looked upon as the turning point in relation to the stricter requirements in relation to . Mr Hunter has been very well aware for a considerable period of months that the bank has wanted him to remove his cattle. MR HUNTER: The section 91 and the second application, sir. 142.75. Unfortunately, based on what I have seen, the possibility of contempt of Court and committal proceedings does appear to be a real one and in the circumstances I am persuaded that I should make the order making committal proceedings operate more smoothly than might otherwise be the case. MR HUNTER: One strikes the mind, sir. Mr Hunter, I am asked to make an order in detailed terms. 2 - 0 Beckenham FC. You are also aware that there is waste contaminated by asbestos that has to be removed by 2nd August 2011, which is a condition set by the enforcement notice served by Aylesbury Vale District Council. Lord Keith of Kinkel, Lord Griffiths, Lord Oliver of Aylemton, Lord Jauncey of Tullichettle. It seems to me inevitable that I must proceed today on the basis that the Receivers have been validly appointed and have the powers vested in them by the legal charges. Just before we deal with that, I am asked to order costs against you in relation to both applications. However, the comparison ceases to be favourable to Mr Hunter from that point. As I have indicated the contracts of February 2011 were not completed. National Westminster Bank (A/K/A NatWest Bank) is a fully-owned subsidiary of the Royal Bank of Scotland Group, which in March 2000, completed the acquisition of NatWest Bank. MR JUSTICE MORGAN: Well, I'm not giving you permission to do it. MR JUSTICE MORGAN: If there is a public footpath and if you come to court asking for this to be varied then that is entirely something you can do and the Court will react to it when it has the evidence on which to act. Mr Hunter has raised a number of questions today in argument as to the way in which the bank or the Receivers went about the sale of part of Kirkdene. Venue: HALL PLACE #4. The Court cannot undo that contract. But the land has been sold by contract to Mr Taylor's company. Turning then to the position of Mr Taylor's company, the Court has not been given evidence as to the position of that company or the people standing behind it. Dealing with the question of the Court's jurisdiction, Miss Windsor of counsel, who appears on behalf of the bank, initially took the point that the court did not have jurisdiction under this sub-section because by reason of the auction contract or by reason of that and other matters Mr Hunter could not satisfy the Court that he was a person interested in the right of redemption. It may also mean -- I need not decide this -- that he is not able to contract to make such a disposal. So shall we talk about the first and start with you, Miss Windsor? The powers of the Receiver are spelt out in Clause 5 of the charge. During the afternoon of 14th July 2011 the firm of Allsops, well-known surveyors and auctioneers, auctioned the land at The Park Lane Hotel, Piccadilly, London, W1. MISS WINDSOR: I invite you to make the order as drafted, save at paragraph 3 (ii) be replaced by some machinery for Mr Hunter to sign the draft as handed up to your Lordship instead. What strikes one from reading section 91(2) of the Law of Property Act 1925 is that it gives the Court in appropriate circumstances a power to order the sale of property. 8. The last thing he wanted to do was to contract at an auction to sell the property, but in law that is precisely what he has done. So for all those reasons I will abridge time to 14 days. So in Mr Hunter's favour I determine that he is a person interested in the right of redemption. He says the company is controlled by his wife and he has no shareholding or other formal position in relation to it. I can only give permission if I am satisfied that you have a real prospect of success in the Court of Appeal or there is some other reason why this case should be considered by the Court of Appeal. NatWest Group - Mortgages. MR JUSTICE MORGAN: Now, Miss Windsor, I have refused permission to appeal, but it remains open to Mr Hunter to serve an appellant's notice. That state of affairs has come about because Mr Hunter has continued to act unlawfully by having his cattle on the land, no doubt seeking to make a nuisance of himself and no doubt hoping that he will interfere with the contract for sale in favour of Mr Taylor's company. 75. National Westminster Bank, byname NatWest, former British bank holding company with branches and subbranches in the United Kingdom and operations across the world. It does not seem to me to be necessary to adjourn this hearing to hear from Mr Taylor's company. Title will be transferred by the mortgagee pursuant to the draft TR2 referred to in the contract. 40. Prima facie, if the same person enters into two contracts for the sale of the same piece of land both contracts are binding in the law of contract, although there is a plain inconsistency between them and the Court may have to determine what remedies to give to which purchaser and in what circumstances. The argument is not about what the Receivers can do today but is instead what they should have done prior to the holding of the auction on 14th July 2011. In National Bank of Greece, Lord Hailsham applied a multi-factorial test in determining source of interest. On that date at around 12.18 pm, Mr Hunter sent an e-mail to the bank. MR HUNTER: I think both, sir. The 14th July was a significant date because it was the date fixed for an auction of the charged property. Bays 2, 3 and 4. are set within octagonal colonnettes surmounted by lantern domed finials, The immediate difficulty created by those contracts for Mr Hunter is that Mr Hunter was not then and has not since been in a position to redeem the bank's charge. Currently, both domestic bank account numbers and IBAN are in circulation. 21. 76. I turn then to the contracts made on 14th July 2011, if that is the correct date, in favour of K Hunter and Sons Limited. Mr Hunter replied by an e-mail received at 14.07 on that day. We need to discuss the detail of the Court order, we need to discuss costs and we need to discuss Mr Hunter's application, which I apprehend he may wish to make, to have permission to appeal. I will hear the parties on any detailed points arising in relation to the order, but in principle it seems to me it is an appropriate order for the Court to make. MISS WINDSOR: No, because the consequence of that is [inaudible]. The other differences between the two contracts favour the auction contract over the suggested position with K Hunter and Sons Limited. In other words, you have to do this very rapidly indeed if you are to do anything at all. Newbury Building Society. I sincerely hope that Mr Hunter will see just how foolish he has been in the conduct on which he has embarked. Mr Hunter conversely contends that the Receivers did the wrong thing by putting the property up for auction when he had made offers of the kind I have described to buy the property. However, pursuant to the draft order which is before the Court I am invited to order and I will order a number of restrictions of Mr Hunter's future conduct. The plaintiff sought summary judgment. MR JUSTICE MORGAN: You cannot fail to understand that. MISS WINDSOR: [inaudible] the first sentence application for permission to appeal----. Confirmation statement filters Accounts Capital Charges Confirmation statements . FCA-v-Natwest-Sentencing-remarks-131221.pdf 405.95 kb. Also taking into account that I am still in possession of Manor Farm, Pitchcott, proof of funding can certainly be provided for a part payment up-front with a second charge in 12 months' time and I am happy to negotiate a figure with yourself that would acceptable to the bank and to myself. In case of any confusion, feel free to reach out to us.Leave your message here. Then there is the question of funding. 41 Lothbury London EC2P 2BP United Kingdom (071) 726-1000. today. My submission would be that even if there is there is no reason why the Court should not injunct the First Defendant from using it. MISS WINDSOR: This is the first I have heard of it. History [ edit] In 1970, the club was formed as a result of the merger between National Provincial Bank and Westminster Bank to form NatWest. However, what one does know -- and it is a positive factor -- is that the purchaser was able to raise the 10 per cent deposit the day after the auction was concluded. 47. His e-mail stated: "I understand that I am not allowed to [refer to it] in open correspondence, however I will say that Manor Farm will not be auctioned before 4.30/5 p.m. today, which means there is plenty of time to withdraw it. Clause 3 of the charge is headed "Restrictions on charging, leasing, disposing and parting with possession". In these circumstances, if it is a relevant question to ask whether the Receivers did the right thing when they took the property to auction and sold it at auction, as compared with cancelling the auction and continuing to talk to Mr Hunter, my conclusion is that they plainly and unarguably took the better course. So although the contract exists or the pair of contracts exist, the legal position is as I have attempted to describe it. It may be that by reason of what is happening on the land, completion with Mr Taylor's company will not be in five days' time, it may be it will happen in late December or January, but that has come about not because Mr Taylor's company has required that and has only been prepared to bargain on that basis, but because Mr Hunter -- in breach I have to say of an order of the Court -- has manoeuvred himself to produce that adverse consequence.
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