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Insolvency Law

Expert guidance on all aspects of corporate and personal insolvency

21 MAY 2013

Harvey v Dunbar Assets plc [2012] EWHC 2890 (Ch); [2013] BPIR 66

(Chancery Division, His Honour Judge Kaye QC (Sitting as a High Court judge), 7 September 2012)

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. 

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