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High Court of Malawi - 2005 September

1 judgment
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1 judgment
September 2005
Lorgat v First Merchant Bank (455 of 2004) [2005] MWHC 14 (1 September 2005)
A mortgagee sold charged property after receiver appointment without fresh notice and negligently at an undervalue; plaintiff awarded K1.5m.
  • Registered Land Act (s68, s71) — appointment of Receiver vs power of sale — requirement for fresh notice after receivership; mortgagee's duty to act in good faith and take reasonable precautions to obtain proper price; negligent sale at undervalue; damages awarded; counterclaim dismissed
1 September 2005