BARCLAYS BANK (D.C.O.) LTD. vs. PERSEVERANCE TRANSPORT SERVICES LTD.

By an originating summons taken out of this court on the 15th August, 1960, the plaintiff-bank sought a declaration that by virtue of a memorandum and deposit of an equitable charge the plaintiff-bank are entitled to be considered as mortgagees of the lands and hereditaments comprised in the memorandum and sought an order to have the same enforced by sale or foreclosure. There were also sought some other consequential reliefs which it is unnecessary to set out at great length. The plaintiff-bank is a well-known banking company. The defendant is a limited liability company. I have no evidence when it was incorporated or what the nature of its business is. Neither its memorandum of association or articles have been put in evidence. Its name, however, suggests that its business is that of running transport. It appears that it was at sometime prior to 1953 one of the customers of the plaintiff-bank. The evidence shows that credit facilities were extended to it before 1953. In that year,...