Paul, Cabot v VMBS

IN THE SUPREME COURT OF JUDICATURE OF JAMAICA

CLAIM NO. 2007 HCV 05 120

IN CHAMBERS

BETWEEN CABOT PAUL CLAIMANTIAPPLICANT

A N D VICTORIA MUTUAL

BUILDING SOCIETY DEFENDANTIRESPONDENT

Mr. Charles Piper and Miss Dundeen Ferguson instructed by Ferguson Campbell and Co.

for ClaimantIApplicant.

Miss Daniella Gentles instructed by Livingston Alexander and Levy for

DefendantIRespondent.

Practice and Procedure - Application for in junction - Application to prevent

mortgagee from re~isteringtr ansfer of mort~agedp roperty pursuant to an exercise

of the power of sale contained in a mort~age- Whether mortpapee mav be

restrained - Whether damages is an adequate remedy - Section 106 of the

Registration of Titles Act

Heard: 22nd and 29th February 2008

BROOKS, J.

Mr. Cabot Paul and his wife Vivienne are the registered proprietors of real estate

situated at Reading Pen in the parish of Saint James. In July 1988 the couple mortgaged

the property to the Victoria Mutual Building Society, to secure a loan of $150,000.00

made to them by the Society. They defaulted in making re-payment and the Society put

the property up for public auction on 23'd October 2007. The bid which was accepted

was for $6,000,000.00. The Society and the purchaser have both executed the transfer

document to have the property transferred to the purchaser.

Mr. Paul has filed this claim for the sale to be set aside. He says that the Society

has not proceeded properly in exercising its power of sale and that it is unfair to sell the

property when he owes less than $200,000.00 to the Society. He says that he is ready,