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Clog on equity of redemption Liability for contingent costs Re: Industrial North West LLP (in Administration) [2020] EWHC 3052 (Ch) Summary A mortgagee was entitled to retain security, notwithstanding the repayment of a loan, against a contingent liability for legal costs. Facts Administrators of INW LLP sought directions on whether they should treat the third respondent (Fairfield) as a secured creditor of INW. Fairfield had provided INW with commercial finance pursuant to a facility which was secured by a Security…

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