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According to him, the court allowed I and M to exercise its statutory power of sale and only sell L.R NO 209/8611/2 and not L.R no 1870/X1159(I.R NO 57684).
After an initial sale at auction fell through, the defendant bank allegedly breached the power of sale under G.L.c.
LDK Solar said that it further understands that such lenders have agreed to forbear from exercising their power of sale with regard to certain of the pledged collateral arising as a result of various prior defaults under the credit facility by LDK New Energy for a period of 12 months toward the end of September 2013, subject to terms and conditions in the forbearance arrangement and negotiation and finalisation of the definitive documentation, including an amended and restated credit facility.
Suing for mortgage arrears, exercising a power of sale and foreclosing are some - the appointment of a receiver and manager is another and one which is more widely used than in recent years.
However, the method of disposing of the hotel brought controversy between the anti-corruption commission and CBK since the latter decided to use its statutory power of sale.a
The seller may reacquire ownership in the property through agreement (e.g., voluntary conveyance, abandonment) or by process of law (including foreclosure proceedings by judicial sale or by power of sale in the loan agreement, strict foreclosure, foreclosure by entry and possession, by writ of entry, or by publication of notice).
Orinda states that the court allowed I and M to exercise its statutory power of sale and only sell L.R NO 209/8611/2.