Acceleration of debt and enforcement of security—key cases
Acceleration of debt and enforcement of security—key cases

The following Banking & Finance guidance note provides comprehensive and up to date legal information covering:

  • Acceleration of debt and enforcement of security—key cases
  • Cases on the process leading to acceleration and enforcement
  • Cases relating to demands and events of default
  • Cases relating to duties of mortgagee on enforcement by sale
  • Cases relating to duties of mortgagee in possession
  • Cases relating to Financial Collateral Arrangements (No 2) Regulations 2003

This Practice Note sets out certain key cases and associated relevant content in relation to acceleration of debt and enforcement of security. The cases are divided by topic area and include:

  1. Cases on the process leading to acceleration and enforcement

  2. Cases relating to demands and events of default

  3. Cases relating to duties of mortgagee on enforcement by sale

  4. Cases relating to duties of mortgagee in possession

  5. Cases relating to Financial Collateral Arrangements (No 2) Regulations 2003

Cases on the process leading to acceleration and enforcement

Names of parties Judgment date Case summary Relevant content
Miller v Cook (1870) L. R. 10 Eq. 641 13 July 1870 This case is authority for the fundamental point that security should not be enforced in an oppressive manner and that consequently notice of enforcement and the exercise of remedies by the security holder is almost always require eg by making demand and raising the power of sale. See Practice Notes: Enforcement—debentures and floating charges and Enforcement—fixed charges
Bank of Baroda v Panessar [1986] BCLC 497