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“Maule”

24th Feb 1997

[1997] 1 W.L.R. 528

Richard Southern acted for the defendant in the Privy Council; banking, ship mortgage, mortgagee’s bank’s power of sale

Admiralty – Mortgage – Mortgagee’s power of sale – Loan secured by mortgage of ship – Non-financial default by mortgagor – No money due under loan agreement – Mortgagees not accelerating repayment – Whether mortgagees’ power of sale exercisable – Whether mortgagees entitled to arrest ship