Downsview Nominees v First City [1993]

Case concerning a debenture.
Privy Council held no general duty of care owed in
negligence by either mortgagees or receivers when exercising their powers.
Any such right would be inconsistent with right of
mortgagee to chose how to enforce the security.
They did owe specific duties imposed by equity,
including duty to exercise their powers in good faith for purpose of obtaining
repayment, but this does not mean there must be no detrimental effect on
mortgagor.