Mr Treharne was the trustee in bankruptcy for Mr Brabon, a solicitor who had been struck off the roll. Before his bankruptcy, Mr Brabon exchanged contracts to sell a number of pieces of land to Silver (Building and Construction) Ltd and granted them an option to purchase additional land. Silver intended to build a number of houses on the land. By taking steps to obtain planning permission for the development they had arguably enhanced the value of the land.
Mr Treharne sought to set aside these transactions on the basis that they were transactions at an undervalue and that the transactions were intended by Mr Brabon to put assets beyond the reach of Mr Brabon's creditors. Part of that argument related to the now enhanced value of the land.
Mr Treharne obtained and injunction and issued proceedings in relation to the transaction. Russell-Cooke acted for Silver the 4th Respondent.
The Judge found amongst other findings that the transactions were not at an undervalue and dismissed the claims against Silver and the Brabons.
Subsequently there was a further dispute between the Brabon's and Silver in relation to the Option Land.