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\rsid8600657\rsid9637424\rsid11290294\rsid14512753}{\*\generator Microsoft Word 10.0.4219;}{\info{\title IN THE HIGH COURT OF FIJI}{\author Emalus Campus}{\operator ehndvaun_d}{\creatim\yr2003\mo7\dy31\hr18\min59}{\revtim\yr2003\mo7\dy31\hr18\min59}
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\f36\fs24\lang1033\langfe5129\cgrid\langnp1033\langfenp5129 {\b\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 IN THE HIGH COURT OF FIJI
\par At Suva
\par Civil Jurisdiction
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
\par CIVIL ACTION NO. 0547 OF 1994
\par 
\par Between}{\f0\lang2057\langfe5129\langnp2057\insrsid8600657 :}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
\par 
\par }{\b\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 FIJI DEVELOPMENT BANK
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 Plaintiff
\par 
\par - and -
\par 
\par }{\b\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 CHARLES BROOKS CHUTE
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 Defendant
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5466726 {\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
\par Mr. V. Kapadia for the Plaintiff
\par Mr. D. Jamnadas for the Defendant
\par 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5466726 {\b\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 JUDGMENT
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5466726 {\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 On the }{\b\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 30th of June 1995}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  in the absence of a }{
\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 Statement of Defence}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  the plaintiff bank entered }{\i\f0\lang2057\langfe5129\langnp2057\insrsid8600657 '}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 default judgment'}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  against the defendant for monies lent and advanced to the defendant and secured by a }{
\b\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 Bill of Sale}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  granted by the defendant over various fishing vessels.
\par 
\par {\*\bkmkstart QuickMark}{\*\bkmkend QuickMark}By an }{\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 inter parties}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  motion issued on the }{
\b\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 31st July 1995}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  the defendant through his solicitors sought the setting aside of the }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid8600657 '}{\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 default judgment'}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  and a stay of execution.
\par 
\par The affidavit sworn by the defendant on }{\b\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 28th July 1995}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  deposed inter alia to the delay }{
\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 (of almost 4 months)}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  on the part of the plaintiff bank's solicitors in furnishing various }{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid8600657 '}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 particulars'}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
 sought by the defendant's solicitors, and the latter's written indication of }{\b\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 23 May 1995}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  that a }{
\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 Statement of Defence}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  would be served shortly.
\par 
\par I note however that over a month had expired }{\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 after}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  the necessary }{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid8600657 '}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 particulars'}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
 were supplied to the defendant's solicitors and }{\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 before}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid8600657 '}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 default judgment'}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  was entered by the plaintiff bank.}{\f0\lang2057\langfe5129\langnp2057\insrsid8600657  }{
\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 Quite clearly the defendant's solicitors had not moved with any expedition in the matter.}{\f0\lang2057\langfe5129\langnp2057\insrsid8600657  }{
\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 There is little merit in this complaint which is not decisive anyway.
\par 
\par Then the defendant deposes that he has }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid8600657 '}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 a good defence'}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
 to the action and annexes a }{\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 proposed}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  }{\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
Statement of Defence}{\b\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  }{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 in which the following relevant matters are pleaded}{
\f0\lang2057\langfe5129\langnp2057\insrsid8600657 :}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  
\par 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid8600657 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 "(3)\tab 
The Defendant says that the Plaintiff by way of an arrangement and agreement dated the 8th of February 1988 transferred the debt owed by the Defendant to a Third Party namely one Masi Rova.
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid8600657 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid8600657 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  (5)\tab Pursuant to the said Agreement, the Defendant released t
he two fishing vessels to Masi Rova the said vessels being the chattels secured by the Bank under the Bill of Sale ...}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid8600657 ;}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  and 

\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\faauto\rin0\lin1440\itap0\pararsid8600657 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
\par }\pard \ql \fi-720\li1440\ri0\nowidctlpar\tx-1440\faauto\rin0\lin1440\itap0\pararsid8600657 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  (6)\tab 
That the Plaintiff had failed to either insure the vessels or repossess the same under the said Bill of Sale.}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid8600657  }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 The Defendant i
n the meantime was deprived of the said vessel."}{\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5466726 {\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
\par The plaintiff bank in opposing the defendant's application provided a copy of }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid8600657 '}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 the agreement'}{
\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  and deposed through its }{\b\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 Assistant Manager Legal }{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
that }{\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 (as to paras 3 and 5 above)}{\f0\lang2057\langfe5129\langnp2057\insrsid8600657 :}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid8600657 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 "... the agreement dated 8th February 1988 did not transfer the debt owed by the defendant to a Third Party.}
{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid8600657  }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 The Defendant had leased the said two fishing vessels to one Masi Rova who was to supply fish products to the defendant."}{
\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5466726 {\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
\par }{\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 and}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 (as to para.6)}{
\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  it was deposed (without contest)}{\f0\lang2057\langfe5129\langnp2057\insrsid8600657 :}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid8600657 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
"The defendant did between December 1986 and December 1992 pay a sum of $13,731.07 for insurance in respect of the said vessels.}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid8600657  }{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 The vessels were eventually seized in 1993 and sold by private treaty for $3,000.00 in January 1994.}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid8600657  }{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 The vessels had deteriorated considerably."
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5466726 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
\par }{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 Counsel for the defendant in support of the application submitted that the }{\i\f0\lang2057\langfe5129\langnp2057\insrsid8600657 '}{
\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 leasing arrangement'}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
 between the defendant and the third party was agreed to and even witnessed by an officer of the plaintiff bank but more than that Counsel
 submitted, that the plaintiff bank was negligent in not monitoring the third party's performance under the arrangement }{\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 and}{
\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  in failing to repossess the boats in good time }{\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 and}{
\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  also in selling the boats }{\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 (which apparently cost $13,000 each) }{
\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 , at a gross undervalue of }{\b\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 $3,000}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 .
\par 
\par It is common ground however that the plaintiff bank was not an actual party to the defendant's }{\i\f0\lang2057\langfe5129\langnp2057\insrsid8600657 '}{\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 leasing arrangement'}{
\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  albeit that its rights as the holder of a }{\b\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 Bill of Sale}{
\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  over the leased fishing vessels appears to have been safeguarded in it.}{\f0\lang2057\langfe5129\langnp2057\insrsid8600657  }{
\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 Furthermore the }{\i\f0\lang2057\langfe5129\langnp2057\insrsid8600657 '}{\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 leasing arrangement'}{
\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  recognises the defendant's ownership of the fishing vessels which is later confirmed in the defendant's unqualified assertion in his letter of }{
\b\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 1st June 1988 }{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 where he writes}{\f0\lang2057\langfe5129\langnp2057\insrsid8600657 :}{
\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 "I, as owner of the two fishing vessels you presently lease from me, ..."}{
\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
\par 
\par In the circumstances it appears somewhat incongruous to expect the plaintiff bank to be responsible for monitoring the third party's performance much less, can the plaintiff bank seek to repossess fishing vessels that it does not own.}{
\f0\lang2057\langfe5129\langnp2057\insrsid8600657  }{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 Needless to say counsel's submissions sits very uncomfortably with the defendant's assertion in }{
\b\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 para.7}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  of his letter }{\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 (op.cit)}{
\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  where he states}{\f0\lang2057\langfe5129\langnp2057\insrsid8600657 :}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  }{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 "... I will have no option but to repossess my boats and handle my own commitments."}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
\par 
\par In my view the submission fails to differentiate between the rights of the plaintiff bank as }{\b\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 Bill of Sale}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
 holder and the rights of the parties to the }{\i\f0\lang2057\langfe5129\langnp2057\insrsid8600657 '}{\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 leasing arrangement'}{
\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 .}{\f0\lang2057\langfe5129\langnp2057\insrsid8600657  }{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
In this latter situation the plaintiff bank has no rights whatsoever }{\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 and}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  in the former, the pl
aintiff bank's rights exist }{\i\f0\ul\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 only}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  against the defendant and are exercisable }{
\i\f0\ul\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 only}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  after a proper demand for payment is not met by him.
\par 
\par No authority was cited by counsel for the defendant to support the existence of any }{\i\f0\lang2057\langfe5129\langnp2057\insrsid8600657 '}{\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 duty of care'}{
\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  owed by a }{\b\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 Bill of Sale}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  
holder to a debtor nor was the same conceded by counsel for the plaintiff bank albeit that it}{\f0\lang2057\langfe5129\langnp2057\insrsid8600657 :}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  }{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 "... acknowledged the arrangement as it would have enabled the Defendant to meet repayments to the Plaintiff."}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
\par 
\par Upon being pressed however counsel for the defendant sought to equate the plaintiff bank's duty to that existing between a }{\i\f0\lang2057\langfe5129\langnp2057\insrsid8600657 '}{\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
mortgagor'}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  and a }{\i\f0\lang2057\langfe5129\langnp2057\insrsid8600657 '}{\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 mortgagee'}{
\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  exercising a power of sale where it is settled law that a mortgagee exercising such a power is obliged to take reasonable care to obtain whatever is the
 true market value of the goods at the time he chooses to sell them.
\par 
\par If I may say so however, the existence of such a duty does not extend to imposing a time frame upon a mortgagee within which he must seize and exercise his power of sale, yet that would 
be precisely the effect of accepting the submission of counsel for the defendant.}{\f0\lang2057\langfe5129\langnp2057\insrsid8600657  }{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 I cannot agree.
\par 
\par Even assuming that the holder of a }{\b\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 Bill of Sale}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
 owes a similar duty to the borrower/grantor, the parameters of the duty are clearly set out in the judgment of }{\b\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 Cross L.J.}{
\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  in the leading case of }{\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 Cuckmere Brick Co. v. Mutual Finance Ltd}{
\b\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 .}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  }{\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 (1971) Ch. D. 949}{
\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  when he said at }{\b\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 p.969}{\f0\lang2057\langfe5129\langnp2057\insrsid8600657 :}{
\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  
\par 
\par }\pard \ql \li720\ri0\nowidctlpar\faauto\rin0\lin720\itap0\pararsid8600657 {\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 "A mortgagee exercising a power of sale is in an ambiguous position.}{
\b\i\f0\lang2057\langfe5129\langnp2057\insrsid8600657  }{\b\i\f0\ul\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 He is not a trustee of the power for the mortgagor}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
 for it was given him for his own benefit to enable him to obtain repayment of his loan.}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid8600657  }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
On the other hand, he is not in the position of an absolute owner selling his own property but must undoubtedly pay some regard to the interests of the mortgagor when he comes to exercise the power.
\par 
\par Some points are clear.}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid8600657  }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 On the one hand, }{\b\i\f0\ul\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
the mortgagee}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 , when the power has arisen, }{\b\i\f0\ul\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
can sell when he likes, even though the market is likely to improve if he holds his hand}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  and the result of an immediate sale may be that instead of yielding 
a surplus for the mortgagor the purchase price is only sufficient to discharge the mortgage debt and the interest owing on it."}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
\par (my underlining)
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5466726 {\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
\par No mention whatsoever is made as to }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 when}{\f0\lang2057\langfe5129\langnp2057\insrsid8600657 ? }{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
the power must be exercised }{\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 (if at all)}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  }{\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 nor}
{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  is there the slightest suggestion that the duty arises }{\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 before}{
\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  the exercise of the power of sale so as to include demand, seizure or repossession }{\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 nor}{
\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  in my view, is there any warrant for extending the duty to such preliminary steps.
\par 
\par In light of the foregoing I am firmly of the view that the defendant's proposed }{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid8600657 '}{\b\i\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 Defence'}{
\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726  is insupportable in law and raises no triable issue.}{\f0\lang2057\langfe5129\langnp2057\insrsid8600657  }{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
The application is accordingly dismissed with costs to be taxed if not agreed.
\par 
\par }\pard \qc \li0\ri0\nowidctlpar\tqc\tx3968\faauto\rin0\lin0\itap0\pararsid8600657 {\b\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 (D.V. Fatiaki)
\par }{\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 JUDGE
\par }\pard \ql \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid5466726 {\b\f0\ul\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
\par }{\b\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 At Suva,
\par 4th January, 1996.}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
\par }\pard \qr \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid8600657 {\f0\lang2057\langfe5129\langnp2057\insrsid8600657 HBC0547J.94S}{\f0\lang2057\langfe5129\langnp2057\insrsid1984345\charrsid5466726 
\par }}