A new client arrives for an appointment to seek your advice on a number of matters. In your initial meeting the client provides the following information:

(a) The client is 19;

(b) The client is male;

(c) The client received a substantial insurance payment four years before for serious injuries he suffered in an accident that occurred when his father swerved to avoid a car driving on the wrong side of the road. The client's father was killed and the client suffered serious injuries from which he is still recovering. The client takes a number of medications daily;

(d) The client's mother also received a large payment but this has been used in the client's mother's business ventures during the 4 years;

(e) The client used a large portion of his payment to purchase a house from his mother in which he and his mother live. The house is in the client's name;

(f) The client's mother had run a number of businesses over the years with her husband that had been successful but, since his death, the current business has had been having difficulties;

(g) The mother and her husband had sold one of the successful businesses just before the husband's death and had agreed not to operate a similar business for five years;

(h) The client's mother set up the current business 2 years ago in the client's name but he has only dealt with sales matters and has had little to do with other aspects of the business, merely doing what his mother acts him to do;

(i) The client's mother has made all the decisions in the business, including negotiations with suppliers, inspection of stock, purchase of stock, all the business' financial matters and dealing with government agencies with written authority from the client;

(j) The client's current business is having difficulties and a number of cheques have been dishonoured;

(k) One of the products that the business sells has been shown to be defective and has caused a number of injuries in customers. The customers are threatening to sue the business.

(l) Six months ago, the client's mother negotiated with her bank, of which she has been a customer for many years and which holds the businesses accounts, for a loan to help grow the business which the mother thinks will allow the business to trade out of its difficulties. The loan is secured against the client's house;

(m) The client advises that the business has continued to suffer and is unable to pay the instalments on the loan. The bank is threatening to call in the loan and take action under the mortgage. A new client arrives for an appointment to seek your advice on a number of matters. In your initial meeting the client provides the following information:

(a) The client is 19;

(b) The client is male;

(c) The client received a substantial insurance payment four years before for serious injuries he suffered in an accident that occurred when his father swerved to avoid a car driving on the wrong side of the road. The client's father was killed and the client suffered serious injuries from which he is still recovering. The client takes a number of medications daily;

(d) The client's mother also received a large payment but this has been used in the client's mother's business ventures during the 4 years;

(e) The client used a large portion of his payment to purchase a house from his mother in which he and his mother live. The house is in the client's name;

(f) The client's mother had run a number of businesses over the years with her husband that had been successful but, since his death, the current business has had been having difficulties;

(g) The mother and her husband had sold one of the successful businesses just before the husband's death and had agreed not to operate a similar business for five years;

(h) The client's mother set up the current business 2 years ago in the client's name but he has only dealt with sales matters and has had little to do with other aspects of the business, merely doing what his mother acts him to do;

(i) The client's mother has made all the decisions in the business, including negotiations with suppliers, inspection of stock, purchase of stock, all the business' financial matters and dealing with government agencies with written authority from the client;

(j) The client's current business is having difficulties and a number of cheques have been dishonoured;

(k) One of the products that the business sells has been shown to be defective and has caused a number of injuries in customers. The customers are threatening to sue the business.

(l) Six months ago, the client's mother negotiated with her bank, of which she has been a customer for many years and which holds the businesses accounts, for a loan to help grow the business which the mother thinks will allow the business to trade out of its difficulties. The loan is secured against the client's house;

(m) The client advises that the business has continued to suffer and is unable to pay the instalments on the loan. The bank is threatening to call in the loan and take action under the mortgage.

If the client operates the business in the form of a limited company, can the bank seek the possession of the property to recover the outstanding debt owed?