Priorities arising from Tomlin Order
On 20 December 2012, The Court of Appeal upheld the decision of Mr Justice Briggs who held that the Schedule to a Tomlin Order requiring a property to be sold and the proceeds paid to the Respondent subject to the payment of certain debts of the owner was sufficient to create an equitable interest in favour of the Respondent which ranked in priority to a subsequently acquired charging order over the same property. The Appellant could not claim a priority on the basis of a unilateral notice which had been removed by agreement in order to allow the sale of the property to proceed because that unilateral notice would have been removed prior to any sale in any event by reason of the Respondent’s prior equitable interest. Gary Cowen represented the successful Respondent on appeal.
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