Receiver By Way Of Equitable Execution - Irish Supreme Court Agrees To Hear Appeal

On 6 February 2018, the Irish Supreme Court agreed to hear an appeal in ACC Loan Management Limited v Rickard1 ("Rickard") in relation to the appointment of a receiver in aid of execution on the basis that the issue was one of general and public importance.

Background

A judgment creditor, in order to execute its judgment, can apply to court for the appointment of a receiver to an asset of the debtor. The Supreme Court of Judicature (Ireland) Act 1877 (the "Judicature Act")2 provides, in that the court may appoint a receiver wherever it is "just and convenient" to do so. This is referred to as appointment of a receiver "by way of equitable execution". The circumstances in which the courts will appoint a receiver in this way are not entirely settled.

Facts

In 2017, the Court of Appeal held, in Rickard3, that it was permissible to appoint a receiver over a State grant known as the Basic Payment Scheme ("BPS") (a discretionary payment made to farmers by the Department of...