Overview

The Bank's claim
The Bank sought a declaration that it was entitled to sell the Property and that even if the transfer was fraudulent the charge was valid so that any purchaser from the Bank selling as chargee would take it free from any interest right or claim by Mr Guy relating to the Property.

The Court's decision
2004 Mr Guy transfers the property to Ten Acres who are subsequently registered as proprietors of the Property.
The transfer executed by Mr Guy was incomplete and the consideration was subsequently filled in without his knowledge.
2005 Ten Acres and the Bank enter into the charge which was for all monies and far in excess of the value of the property. The charge in favour of the Bank is registered at the Land Registry.

2006 Ten Acres goes into administration.
2007 The joint administrators consent to the sale of the Property by the Bank.
1 Ten Acres procured the 2004 transfer by fraud and therefore the transfer was void.
2 The charge in favour of the Bank was ineffective.
3 Mr Guy was entitled to rectification of the title to the Property to show he was the proprietor of the Property as a mistake had been made.

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