Section 196: Consent of mortgagee to sale of property(cid:3)

196. Consent of mortgagee to sale of property(cid:3) (1) Where the consent of a mortgagee is required to the sale of property in receivership and the receiver is unable to obtain that consent, the receiver may apply to the Court for an order authorising the sale of the property, either by itself or together with other assets.(cid:3) (2) The Court may, on application under subsection (1), make such order as it thinks appropriate authorising the sale of the property by the receiver where it is satisfied that— (a) the receiver has made reasonable efforts to obtain the mortgagee’s consent; and(cid:3) (b) the sale— (i) is in the interests of the chargor and chargor’s creditors; and(cid:3) (ii) will not substantially prejudice the interests of the mortgagee.(cid:3) (3) An order under this section shall be made in accordance with article 2200 of the Code Civil Mauricien on such terms as the Court thinks appropriate.(cid:3)