After being approached by several worried Islanders being threatened with repossession, lawyers say that the finance companies may not have legal claim to the cars after all.The head of litigation at Ogier and Le Masurier, Matthew Thompson, said that the matter hinged on whether Five Oaks had ‘mortgaged’ cars to fund the purchase of new stock.
He said that under Jersey law, houses could be mortgaged, but not items such as cars.’If that is the case,’ he said ‘it is not something you can do as a matter of law.’
