Jurisdiction(s):
United Kingdom

Related legal acts

Key definition

Acceleration definition

What does Acceleration mean? Acceleration is the contractual mechanism by which a lender (or bond trustee) can require immediate repayment of all sums outstanding after an event of default. It is not defined by statute; its content is set by the facility agreement, trust deed or other finance documents and applied under contract law. Acceleration is typically either (i) optional, exercised by written notice (an acceleration notice), or (ii) automatic on specified triggers, commonly non‑payment, insolvency, breach of covenants, misrepresentation, illegality or cross‑default. Once declared, amounts due include outstanding principal, accrued and default interest, fees, break costs and any “all monies” liabilities (including under...

Acceleration and Security Enforcement: Case Law on Demands, Events of Default, Mortgagee and Lender Duties, and Financial Collateral (England and Wales)

Published by a LexisNexis Banking & Finance expert

Practice notes

This Practice Note outlines key authorities and associated materials on the acceleration of debt and the enforcement of security. The cases are grouped by subject and include:

Cases on the process leading to acceleration and enforcement
Cases relating to demands and events of default
Cases concerning a mortgagee’s duties when enforcing by sale
Cases concerning a mortgagee in possession
Cases relating to the financial collateral Arrangements (No 2) Regulations 2003

Cases on the process leading to acceleration and enforcement

Names of parties: Miller v Cook (1870) L. R. 10 Eq. 641
Judgment date: 13 July 1870
Case summary: This authority establishes the central proposition that security must not be enforced in an oppressive fashion; accordingly, the security holder will, in almost all instances, need to give notice of enforcement and exercise remedies properly, for example by issuing a demand and invoking the power of sale.

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Web page updated on 21/05/2026

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