All your resources at your fingertips.Learn More
H guaranteed the obligations of the company to a bank, allegedly on the basis of a promise from the bank that it had no intention to enforce it. H applied to set aside a statutory demand for £720,000 served by the bank under the guarantee. The district judge's draft judgment dismissed the application. H asked the district judge to reconsider the judgment, as in the meantime a different district judge had set aside a statutory demand against a co-surety on the basis that the co-surety had not signed the guarantee. The district judge affirmed the judgment but gave permission to appeal on the signature point. His Honour Judge Kaye QC (sitting as a High Court judge) dismissed H's appeal. Under the terms of the guarantee, enforceability against H was preserved in the event of unenforceability against a co-surety.
To view the full text, please log in.
To receive a FREE 14 day online trial to Insolvency Law Online click here.
"BPIR is an excellent series, of interest to both corporate and personal insolvency lawyers,...