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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,