Dowling v Promontoria (Arrow) Ltd

Insolvency – Statutory demand. The Bankruptcy High Court set aside a statutory demand, which had been served on the applicant guarantor, where the respondent, having had its title put in issue, had failed properly to prove its status as assignee in respect of the debt forming the subject matter of the statutory demand. The court further held that the applicant had raised a strongly arguable case that a second facility, which the respondent relied on in respect of the statutory demand, was not within the purview of the first guarantee and, further, that any rights which the respondent might have had to enforce the applicant's obligations under the first guarantee appeared to be statute barred.

Category: