Administrators entitled to sell charged property
2 min read
This case involved an investment scam where investors paid deposits for leases of rooms in a nursing home property. The investors’ money was lent by the company to associated companies and never repaid. The investors were granted secured rights in respect of their deposit payments, but unfortunately, these ranked behind a charge granted over the property, and registered at the Land Registry, securing lending in respect of the property’s purchase, which exceeded its value (the “Charge”).