Bankruptcy Cases - Property
Some interesting recent cases and reminders:-
Nationwide Building Society v Wright  EWCA Civ 811
A Judgment Creditor who had obtained a final Charging Order before the making of a Bankruptcy Order was not necessarily to be deprived of the benefit of his security by reason of the Bankruptcy Order.
Tagore Investments SA v Official Receiver  EWHC 3495
A Court does have discretion under Section 346(6) to grant relief from the consequences of Section 346(1), so that a Judgment Creditor can retain the benefit of a Charging Order which he would otherwise have lost due to the intervening bankruptcy of the owner.
Re Ruiz (a Bankrupt)  EWHC 913
Orders made under Section 33 of the Family Law Act 1996 did not prevent a trustee in bankruptcy from gaining and enforcing a proprietary interest in the property. The wife should have sought an early annulment of her husband’s bankruptcy.
Pick v Chief Land Registrar  EWHC 206
An innocent transferor was entitled to be registered as proprietor notwithstanding that a bankruptcy restriction had been entered on the title after transfer, but before the Application for registration. This reinforces the fact that trustees should register bankruptcy restrictions at the Land Registry quickly.
Trustees should be aware of Judgment Creditors pursuing final Charging Orders after bankruptcy.