Vol 17 (2020) - Issue 4

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Oliver Dean Morley t/a Morley Estates v The Royal Bank of Scotland plc [2020] EWHC 88 (Ch)

Synopsis
In Oliver Dean Morley t/a Morley Estates v The Royal Bank of Scotland plc1 ('Morley'), the High Court provided guidance on the scope of a lending bank's duties to a commercial borrower. This case review focusses on the elements of the judgment most relevant to distressed circumstances and the enforcement of security, in particular, the Court's consideration of the duty of a mortgagee to take reasonable steps to obtain the best price reasonably obtainable when selling a mortgaged asset. Despite deciding in favour of the defendant bank (the 'Bank') on the facts at hand, the Court's judgment serves as a reminder of the care required by mortgagees and their receivers in such circumstances.