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England and Wales Court of Appeal (Civil Division) Decisions |
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You are here: BAILII >> Databases >> England and Wales Court of Appeal (Civil Division) Decisions >> Delaney v Chen & Anor [2010] EWCA Civ 1455 (16 November 2010) URL: http://www.bailii.org/ew/cases/EWCA/Civ/2010/1455.html Cite as: [2011] BPIR 39, [2010] EWCA Civ 1455 |
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ON APPEAL FROM CHANCERY DIVISION,
BIRMINGHAM DISTRICT REGISTRY
(HIS HONOUR JUDGE PURLE QC)
Strand, London, WC2A 2LL |
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B e f o r e :
(LORD NEUBERGER)
LORD JUSTICE CARNWATH
and
LORD JUSTICE SULLIVAN
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DELANEY |
Respondent |
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- and - |
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CHEN AND ANOTHER |
Appellants |
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Mr Mark Anderson QC (instructed by Wilkes Partnership) appeared on behalf of the Respondent.
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Crown Copyright ©
Lord Neuberger MR:
"(1) this section relates to transactions entered into at an undervalue and a person enters into such a transaction with another person if...
(c) he enters into a transaction with the other for a consideration the value of which, in money or money's worth, is significantly less than the value, in money or money's worth of the consideration provided by himself."
"In the case of a person entering into such a transaction an order should only be made if the court is satisfied that it was entered into by him for the purpose –
(a) of putting assets beyond the reach of a person who is making, or may at some time make, a claim against him; or
(b) of otherwise prejudicing the interests of such a person in relation to the claim that he is making or may make."
"by the comparative method for the vacant possession values and the investment method for the value subject to the tenancy. We are conscious that in practice a prudent investor buyer would probably take a view of the tenancy terminating before the end of the fixed period and then in light of this would be prepared to offer a figure higher than the investment value, but lower than the value with vacant possession."
Lord Justice Carnwath:
Lord Justice Sullivan:
Order: Appeal dismissed