“…mortgagee: see the discussion of the relevant principles by Lightman J, giving the judgment of this court, in Silven Properties Ltd v Royal Bank of Scotlandplc [2003] EWCA Civ 1409, [2004] 1 WLR 997. Furthermore, even if the effect of the receivership is to supplant the directors’ powers while it subsists, the directors remain in office t…”
“…China & South Sea Bank v Tan was also cited in a further decision of the Court of Appeal, Silven Properties Ltd v Royal Bank of Scotland plc [2003] EWCA Civ 1409, [2004] 1 WLR 997. What was at issue there were the duties of receivers, but Lightman J, giving the judgment of the Court, explained (in paragraph 12) that the…”