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Thread: Blackshaw v MFS Portfolio Ltd (2017)

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    Amethyst's Avatar

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    May 2007
    1852 Post(s)

    Default Blackshaw v MFS Portfolio Ltd (2017)

    Interesting and quite useful for reference Judgment that doesn't seem to be already on here ( tho it is from Nov 2016)


    "Chancery judge hearing insolvency appeal dismisses all technical challenges to agreement validity under the Consumer Credit Act 1974"

    A credit card agreement from 1995 had been assigned twice. The debtor defaulted in 2009 and a default judgment and charging order were obtained. In 2013 the assignee served a statutory demand on the debtor to try and obtain payment proposals. A bankruptcy order was then made in June 2014. At that point the debtor sought to apply to annul the bankruptcy order. Half a dozen points were made including that the credit card agreement did not comply with the CCA or the agreements regulations and that the default notice
    was invalid or defective in some way. The assignee had difficulty in reconstituting copies and retrieving a copy of the default notice. The
    application to annul was refused. The debtor appealed and this came on for hearing before Mann J in the Chancery Division. He upheld the district judge’s ruling that there were no defects in either the credit card terms and conditions or the default notice. Whilst the judge said there had been inefficiencies in producing documentation in this case, that was not sufficient to annul the bankruptcy order. He lifted the stay and the assignee can now proceed in its bankruptcy. The assignee has conceded it has to surrender the benefit of its security in its charging order for the benefit of all creditors.

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