By Simon Clark, Karl Anders, Owen Ormond

The case of Centenary Homes Ltd v Jon Howard Gershinson and Victoria Liddell [2017] highlights the relatively high threshold that must be overcome by a borrower seeking to bring a claim against receivers if they believe that they have sold property for less than market value.

In a nutshell, Centenary Homes Limited defaulted on a loan which was secured against several properties, including one property (Warne Court) which comprised a number of residential flats.