Toby Has Exchanged Contracts for the Purchase of a Torrens

Toby has exchanged contracts for the purchase of a Torrens title residential property.Settlement was scheduled to occur on 15^th October at 3 pm.At 9.30 am on 15^th October Toby's conveyancer searched the title and found no problems.At 1 pm on 15^th October a creditor who had received a court judgment against the vendor on 14^th October registered the judgment order on the vendors' title.Based on the decision in Black v Gannock [2007] HCA 31,what is likely to happen?

A) The settlement will be blocked but Toby has rights against the creditor for not lodging its interest within a shorter period of time.
B) The settlement can proceed provided Toby can arrange for the settlement to be conducted by 2 pm or earlier because an hour's notice by the creditor failed to meet the required bona fide standard.
C) The settlement can proceed because Toby's' search was conducted with reasonable care and skill.
D) The settlement will be blocked because the creditor had a registered interest.Toby only had an unregistered equitable interest.