The recent case of Royal Bank of Scotland Plc. v. Jamieson has rejected a previously accepted practice in relation to the sending of a Calling Up Notice (“CUN”) to the Extractor of the Court of Session. The practical ramifications of this decision are uncertain and this case has raised more questions than it has answered. Further case law is going to be needed to clarify how CUNs are to be dealt with in the future.BackgroundA creditor holding a standard security can issue a CUN to call up the loan and seek repayment. In this case, when the creditor (RBS) attempted to...
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