Post by criston on Mar 9, 2020 17:26:06 GMT
Update.
As previously advised, the possession hearing was held on 9 March 2020. At the hearing, the borrowers made various submissions in defence. As evidence was produced that the borrowers are progressing with some form of repayment, by way of a refinance or sale, they were of the view that they should afford the borrowers with an extended period of time to pursue these avenues. As a result, an order was made for possession proceedings to be stayed for a period of 70 days. The Administrators will continue to liaise directly with the borrowers, to monitor any sale or refinance. Should matters not be concluded within the 70 day period provided, steps will then be taken to continue with possession proceedings accordingly.
Loan originally ended on 01/10/19
As previously advised, the possession hearing was held on 9 March 2020. At the hearing, the borrowers made various submissions in defence. As evidence was produced that the borrowers are progressing with some form of repayment, by way of a refinance or sale, they were of the view that they should afford the borrowers with an extended period of time to pursue these avenues. As a result, an order was made for possession proceedings to be stayed for a period of 70 days. The Administrators will continue to liaise directly with the borrowers, to monitor any sale or refinance. Should matters not be concluded within the 70 day period provided, steps will then be taken to continue with possession proceedings accordingly.
Loan originally ended on 01/10/19