The Business Law Reports
[2010] Bus LR 119
Court of Appeal
Octagon Assets Ltd v Remblance and another
[2009] EWCA Civ 581
2008 Dec 8;
2009 June 17
2009 June 17
Ward, Mummery, Dyson LJJ
Bankruptcy— Debt— Statutory demand— Guarantor covenanting that tenant company would comply with obligations to landlord under lease— Tenant becoming indebted to landlord— Tenant’s cross-demand preventing landlord bringing insolvency proceedings against tenant— Landlord instead issuing statutory demand against guarantor— Guarantor applying to set aside statutory demand— Whether guarantor’s ability to pay tenant’s debt good reason for refusing application— Whether co-extensive nature of guarantor’s and tenant’s obligations under guarantee making it just to set aside statutory demand—
Insolvency Rules 1986 (SI 1925/1986), r 6.5(4)(a)(d)