Pupil Samuel McNeil revisits Re Alpha Student, in which Arnold J found that “off-plan” purchasers of property benefited from equitable liens, in respect of their deposits, rendering them secured creditors following the developer’s insolvency, even where the development had not been constructed.
The case is thought to be the first reported occasion on which the application of equitable liens to these circumstances was fully argued and determined, in any common law jurisdiction. Asela Wijeyaratne acted for the 127 purchasers and Navjot Atwal for the liquidators.
Asela Wijeyaratne is currently instructed on behalf of a number of large investors groups in relation to multiple high-rise tower developments, following the insolvencies of the respective developers.
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May 20, 2021