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Search Results for: Insolvency Act 1986 323
Stein v Blake: HL 18 May 1995
Where A and B each have claims against each other and A is insolvent, the common amount is set off, and the net difference remains as a debt due. Hoffmann L said: ‘It is a matter of common occurrence for an individual to become insolvent while attempting to pursue a claim against someone else. In … Continue reading Stein v Blake: HL 18 May 1995
Stein v Blake: CA 13 May 1993
The plaintiff argued that: ‘Nothing in the wording of section 323 changes the nature of set-off as it operates between solvent parties; it merely widens the categories of claim capable of being, and which must be, set off.’ Held: The decision in Farley was wrong and that the separate causes of action survived the bankruptcy … Continue reading Stein v Blake: CA 13 May 1993
National Westminster Bank Ltd v Halesowen Presswork and Assemblies Ltd: HL 1972
The bank’s common law right of set-off was affirmed. The bank’s appeal succeeded. The application of section 323 is mandatory in the sense that it cannot be excluded by prior agreement of the parties. Citations: [1972] AC 785 Statutes: Insolvency Act 1986 323(2) Jurisdiction: England and Wales Citing: Appeal from – Halesowen Presswork and Assemblies … Continue reading National Westminster Bank Ltd v Halesowen Presswork and Assemblies Ltd: HL 1972
American Express International Banking Corporation v Hurley: ChD 1985
The property mortgaged was specialised sound and lighting equipment used at pop concerts. The mortgagee’s guarantor was dissatisfied with the way in which the receiver sold the equipment. Held: Where a company receiver was appointed under a charge in common form, he acted as the agent of the the mortgagor until the mortgagor’s liquidation. Something … Continue reading American Express International Banking Corporation v Hurley: ChD 1985
