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Sir Edward Evans-Lombe (sitting as a High Court judge) held that the assignee of a claim from an insolvent company was entitled to invoke the anti-deprivation principle. A clause in an agreement that provided for a debtor’s debt to the company to be released in the event of the company’s insolvent administration was struck down.
"This is the ultimate statement of where the law on IVAs is to be found in our great common law...