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Enforcement of loan made in contravention of general prohibition (Jackson v Ayles)

Enforcement of loan made in contravention of general prohibition (Jackson v Ayles)
Published on: 28 April 2021
Published by: LexisPSL
  • Enforcement of loan made in contravention of general prohibition (Jackson v Ayles)
  • What are the practical implications of this case?
  • What was the background?
  • What did the court decide?
  • Case details

Article summary

Restructuring & Insolvency analysis: Having concluded that a loan secured against a bankrupt’s matrimonial home was made in contravention of the general prohibition in section 19 of the Financial Services and Markets Act 2000 (FSMA 2000) (and was therefore unenforceable under FSMA 2000, s 26(1), the court held that it was not just and equitable in the circumstances of the case to allow the lender to enforce it under FSMA 2000, s 28(3). Written by Simon Passfield, barrister at Guildhall Chambers. or take a trial to read the full analysis.

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