Read the full judgment text of HCMP 001170/1983 on BabelCite. This High Court CFI judgment.
1. The Defendant mortgaged premises to the Plaintiff bank. Some considerable time ago, the bank, as mortgagee applied for and obtained an Order Nisi of foreclosure. That was at a time when because of the prevailing economic circumstances, it seemed inadvisable to the bank to exercise its power of sale under the Deed of Mortgage. Since then as a result of changes in market conditions, the bank has repented of its decision to foreclose and would prefer instead to sell. To that end it has applied t