Development Bank of Seychelles Ltd v Morin & Anor (CM 06 of 2022) [2025] SCSC 67 (5 May 2025)

SUPREME COURT OF SEYCHELLES Reportable [2025] CM06/2022 In the matter between: DEVELOPMENT BANK OF SEYCHELLES LTD (rep. by Mr Keiran Shah) Plaintiff and DANIEL MORIN PASCAL MORIN (rep. by Mr France Bonte) Defendants Neutral Citation: DBS v Morin and Or CM06/2022 [2025] 5th May 2025 Before: Summary: Burian, J Sale by Levy of immovable property subject preceded by a "commandment" Act (Cap 94) 17th April 2025 51h May 2025 Heard: Delivered: to a "saisie immobiliere" - Immovable Property (Judicial Sales) ORDER 1. All formalities under the Immovable Property (Judicial Sales) Act (Cap 94) having been complied with for the Sale by Levy of parcel B2420 with all buildings and appurtenances thereon situated at La Misere, Mahe, Seychelles, and on the date of the sale and adjudication namely 17th April 2025 there being no higher bid than the mise a prix as set out in the Memorandum of Charges dated 8th July 2022 in the sum of Seychelles Rupees Seven Million Five Hundred Thousand the property was adjudicated to the execution creditor namely the Development Bartle Seychelles Limited. II. Plaintiff is ordered to pay the amount payable by way of stamp duty and registration and transcription fees in respect of the Title deed to the Property (consisting of the MEMORANDUM OF CHARGES and the Judgment of Adjudication) in accordance with Article 5 of the MEMORANDUM OF CHARGES and section 44 of the Act by depositing the same in the hands of Counsel, Mr Keiran Shah within twenty days after the adjudication namely 7tiJ May 2025 after which the property shall be registered in the name of the Plaintiff. JUDGMENT OF ADJUDICATION BURIAN,J [1] A COMMANDMENT dated 25tiJ January 2022 was filed in the Registry of the Supreme Court on 15th February 2022 requiring the Respondents', Daniel Morin and Pascal Morin, to pay the sum of Seychelles Rupees Three Million Nine Hundred Thousand Four Hundred and Ten (SR 3,900,410/-) plus interest thereon at the address of Attorney-at-Law Keiran Shah or the Process Server serving the Commandment forthwith, and notifying the Defendants' that in default of such payment within 10 days of the date of service of the Commandment, the Plaintiff, the Development Bank of Seychelles Limited would cause Parcel B2420 situated at La Misere, Mahe Seychelles and registered under the Land Registration Act Cap 107 in the name of the Defendants' to be seized and sold by virtue and in execution of a charge dated 5th January 2011 whereby the Defendants' charged Parcel B2420 to secure payment to the Plaintiff of the sum of Seychelles Rupees Three Million (SR 3,000,000/-) together with interest at the rate of 8.5% per annum and expenses, and the Defendants' agreed to pay to the Plaintiff all expenses, legal costs and charges in the event of default in repayment and recovery of the debt. The Commandment was served by the process server on 3rd March 2022 at Plaisance, Mahe, Seychelles on the Respondents' and the original visaed by the Registrar of the Supreme Court within 48 hours after service. [2] Seizure was effected on 27thMay 2022 by Mr Ronny Maria process server accompanied by Mr Tony Alcindor process server, and MEMORANDUM OF SEIZURE to which was annexed written SPECIAL AUTHORITY of the execution creditor dated 16th March 2022 authorising the usher to effect the seizure was notified to Daniel Morin of Plaisance, Mahe, Seychelles on the same date. [3] MEMORANDUl\1 OF CHARGES dated 5thJuly 2022 was deposited at the Registry of the Supreme Court on the 8thJuly 2022. On 12th July 2022, Judge Gustave Dodin, Judge of the Supreme Court at the foot of the MEMORANDUM OF CHARGES fixed the date for the reading thereof being the 11thNovember 2022. Notice specifying the day, hour and place appointed for the reading was served on the Defendants' on 12th October 2022 calling upon it to examine the MEMORANDUM OF CHARGES and to make thereon such observations as it may think fit and further to be present at the reading of the MEMORANDUM OF CHARGES. Reading of the MEMORANDUM OF CHARGES did not take place on 11thNovember 2022 and was postponed to 7th March 2025. [4] READING OF MEMORANDUM OF CHARGES pursuant to section 29 of the Immovable Property (Judicial Sales) Act Chapter 94 ("the Act") took place at a public sitting of the Supreme Court held on 7th March 2025 at 9a.111.before Judge Brassel Adeline, Judge of the Supreme COUliduly assisted by COUliOrderly Cheryl Bamboche, before whom personally appeared Mr Keiran Shah, Attorney-at-law, having carriage of the sale and Mr France Bonte, Attorney-at-law representing the Defendants'. [5] The Memorandum read as follows: IN VIRTUE AND IN EXECUTION OF:- 1. A charge drawn up by Notary Public Serge Rouillon granted to MOlin Holdings Limited herein represented by Mr Daniel Jean Victor Morin and Mr Pascal Cheribin Morin of Plaisance, Mahe Seychelles, a loan for SCR 3,000,0001- dated 5th January 2011 duly registered on the 7thJanuary 2011 with interest at 8.5% per alIDU111and charged secured by a charge on Title No. B2420. 2. The said loan carries interest at the rate of 8.5% per annum compounded monthly. 3. 4. The said loan, interest and charges thereon have now become due and payable. A "Commandment" previous to levy, under the hand of the undersigned Attorney for the Plaintiff duly served on the Defendants' on 3rd March 2022 to the 2nd Defendant by the process server of the Supreme C0U11of Seychelles, claiming payment for the Defendant payment of the following amounts: a) The Capital amount and interest SCR 3,900,410/- (b) Interest from the l " April 2021 at the bank rate compounded monthly until the date of payment (c) SCR 5000/-being filing fees of the Commandment and the special authority. (d) SCR 15,0001- being for fees and disbursements for the sale by levy. 5. A power to seize the immovable property signed by the Plaintiffs Attorney dated 16th March 2022 authorised the Process Server to seize and place under custody of law the said immovable property. 6. A Memorandum of Seizure of the said immovable property dated 9th June 2022 and received on the 14th June, drawn up by Process Server, Mr ROlU1YMaria giving the description thereof along with the appurtenances, dependencies, buildings and plantations thereof. 7. A valuation of the said immovable property by the Process Server Mr ROlU1Y Malia witnessed by Mr Tony Alcindor and Mr Serge Raoudy on the 2nd Defendant of Title B2420 at La Misere, Mahe, Seychelles for the sum of Seychelles Rupees Seven Million Five Hundred Thousand (SCR 7,500,000/-) 8. DESCRIPTION OF THE IMMOVABLE PROPERTY A portion of land known as B2420 situated at La Misere, Mahe, Seychelles BUILDING one concrete lock store covered in CI sheets PLANTATION Several shrubs and bushes MISE A PRIX The land along with dependencies thereon will be sold upon a mise a prix at the sum of Seychelles Rupees seven million five hundred thousand only. CONDITIONS OF SALE Article 1: This sale will take place agreeably to and in conformity with the provisions of the Immovable Property (Judicial Sales) Act (Cap. 66 of the Laws of Seychelles). Article 2: The property will be sold to the highest bidder for cash. The Purchaser will be bound to pay all taxes, registration and transcription dues, stamp duties, fees, contribution for imposts of any kind which might be leviable or which might burden the said immovable property from and after the date of purchase. Article 3: The Purchaser shall be bound to respect all the encumbrances and servitudes of any kind which might burden the said portion of land. He will have the right to dispute the same as he thinks fit and proper without any recourse or guarantee whatsoever against the execution creditor (the Plaintiff) nor any diminution of price with respect thereto. The Purchaser shall on the other hand be entitled to the benefit of any servitude apparent or otherwise which accrue to the said land. Article 4: The Purchaser shall be bound to pay his purchase price according to a plan of distribution to be drawn up by the Registrar of the Supreme COUliof Seychelles which might be given a share the said purchase price. The purchase price shall bear interest at the rate of four per cent per annum from and after the day of the purchase. The purchaser may be called upon to pay one fourth of his purchase price at the time of adjudication and before the property is knocked down to him. The portion deposited shall not bear interest. The obligation of deposit shall not be binding on the Plaintiff were it to become Purchaser. Article 5: Over and above the purchase price the Purchaser shall be bound to pay all costs and expenses of sale upon bills duly taxed, the full rate of stamp duties as well as costs of transcription of Judgment of Adjudication. Article: 6 The Purchaser shall be bound to execute all and every condition of the Cahier des Charges upon pain of seeing the property sold against him by Faile Enchere. In case of resale of the property by way of Folle Enchere, the portion of the purchase price which might have been deposited as well as the costs of the sale shall be forfeited. Article 7: Should there be two or more purchasers, they shall all be bound jointly and severally to execute the present conditions of the sale. For further particulars apply to the undersigned Attorney-at-Law. Dated at Victoria, Mahe, this 5th July 2022 "ATTORNEY-AT-LAW" [6] The date for the sale and adjudication of the Property was fixed for 17th April 2025 immediately after the reading of the MEMORANDUM OF CHARGES. [7] SALE BY LEVY OF THE PROPERTY - At a public auction held on 171h April 2025 at 9.00am, the date fixed for sale and adjudication of the Property, personally appeared before me Judge Natasha Burian, Judge of the Supreme Court assisted by COUliOrderly Ms Marie-Therese Bristol., Ms Afif for Mr Keiran Shah, Attomey-at-law, having carriage of the sale and Mr France Bonte attorney-at-law representing the Defendants. Ms Afif declared to me that all formalities laid down by sections 31 and 224 the Act for the publication of the date of sale of the Property had been duly complied with, such formalities having been effected upon fixing of the date of sale and that the BILL OF COSTS OF SALE due at the time of the sale duly taxed by the Registrar had been filed in the Registry of the Supreme COUlttwenty-four hours before the sale in accordance with section 32 of the Act. [8] The mix a prix was announced as being SR 7,500,0001- and it was also announced that the taxed costs of the sale amounted to SR 13,478/- AND BEYOND THE AMOUNT SO TAXED, NO FURTHER SUM SHALL BE CLAIMABLE OR ALLO'VED IN RESPECT OF SUCH COSTS. [9] Whereupon the biddings were opened for the portion ofland at SR 7,500,0001-. There were no bidders and the mise a prix not covered; and the property was therefore adjudicated to the creditor, the Development Bank of Seychelles Limited. [10] I therefore, awarded the property to the Development Bank of Seychelles Limited and Plaintiff is ordered to pay the amount payable by way of stamp duty and registration and transcription fees in respect of the Title deed to the Property (consisting of the MEMORANDUM OF CHARGES and the Judgment of Adjudication) in accordance with Article 5 of the MEMORANDUM OF CHARGES and section 44 of the Act by depositing the same in the hands of Counsel, Mr Keiran Shah within twenty days after the adjudication namely 7th May 2025 after which I hereby order the registration of the in the name of the Plaintiff Signed, dated and delivered at Ile du Port on 5th May 2025 Burian, J