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Advise Marcela if she should sell the property to Xiao

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Question - Marcela is a receiver. She is appointed by Tran, a secured creditor of Batfish Ltd, to exercise Tran's security rights over a parcel of property owned by Batfish Ltd located in Adelaide.

Marcela acts on Tran's instructions and takes possession of the property. She obtains an independent valuation of $2 million for the property. Before she begins a marketing campaign to sell the property she is approached by Xiao with an offer to purchase.

Xiao offers Marcela $2.1 million for the property.

Advise Marcela if she should sell the property to Xiao. Use the IRAC method to structure your answer.

Reference no: EM132836666

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