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Published on: 12 June 2025

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Security

Forbes v Interbay Funding Ltd; Forbes and Seculink Ltd [2025] EWCA Civ 690

The consolidated appeals centred on the construction of the Debt Respite Scheme (Breathing Space Moratorium and Mental Health Crisis Moratorium) (England and Wales) Regulations 2020 (SI 2020/1311) (the Regulations). The key question was whether the principal sum of a secured debt that fell due before a moratorium commenced under the Regulations is a ‘non-eligible debt’, and therefore excluded as a ‘moratorium debt’. The Court of Appeal rejected the appellant, Mr Forbes’s, appeals from two High Court decisions, which had found that the principal sums owed to Interbay Funding Limited (first appeal) and Seculink Limited (second appeal) were non-eligible and outside the moratorium. It confirmed that principal amounts of secured debts payable prior to the moratorium are non-eligible and thus do not benefit from the protections provided by the Regulations...

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