Mousey
Member of DD Central
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Post by Mousey on Jul 17, 2021 12:41:30 GMT
Right to clear up any confusion: (Incidentally typed up on a train to Cardiff) Lendy do have a first charge, not disputed AFAIK by anyone. As I've said before:
"In Williams and another v Broadoak Private Finance Ltd and others [2018] EWHC 1107 (Ch), the court held that joint administrators were entitled to dispose of a partly-developed freehold property, free from the interests of both a secured lender and several contracting purchasers."
Very careful scrutiny should be carried out as to: a) What consideration the Borrowing Company's Administrators gave to selling the property free of the Equitable Liens.
b) What consideration the Welsh Government gave to buying the property with the Equitable Liens in place.
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Mousey
Member of DD Central
Posts: 1,215
Likes: 4,574
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Post by Mousey on Feb 18, 2022 11:51:21 GMT
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Post by p2psws on Feb 19, 2022 6:27:40 GMT
Cursed? Cursed!?!? Thats one word for it. Not the word I would use to describe the administration, how Lendy was run, or the borrower!!
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