Case Note: Nicoll v Promontoria
9 / 10 / 2019
The decision in Nicoll v Promontoria (RAM2) Ltd  EWHC 2410 (Ch) confirms the limited the scope of challenging the effectiveness and validity of an assignment. In summary, if Promontoria has given notice of the assignment to the debtor, and the assigning bank has confirmed by notice or has otherwise acknowledged that it considers the assignment complete, the debtor is not entitled to challenge the efficacy or validity of the assignment.
Susanne Muth examines the impact of the decision and its impact on the scope for challenging the effectiveness and validity of assignments from Clydesdale Bank and other lenders, while also highlighting other potential avenues of attack which might be open to debtors.
You can download Susanne’s case note here.