Technical update: marshalling part two — Szepietowski v The National Crime Agency
Last week, Gateley commented on how marshalling has been under the spotlight following two recent cases: Highbury Pension Fund Management Company and Anor v Zirfin Investments Management Ltd and Ors and Szepietowski v The National Crime Agency (formerly the Serious Organised Crime Agency). By way of a reminder, marshalling is the ability of a secured creditor to take advantage of assets held under another creditor’s security where they are both owed a debt by the same person.
This week, Gateley looks at the second of these cases, Szepietowski v The National Crime Agency.
Is there an underlying debt? Last October, the Supreme Court allowed an appeal against the Serious Organised Crime Agency’s right to marshal a charge granted to the Royal Bank of Scotland (RBS) over a family home on the basis that there was no underlying debt…
Click on the link below to read the rest of the Gateley briefing.
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