Commentary

23 Before 1 January 2003—no moratorium available

BANKRUPTCY AND INSOLVENCY (CORPORATE INSOLVENCY) vol 3(3)
| Commentary

23 Before 1 January 2003—no moratorium available

| Commentary

23 Before 1 January 2003—no moratorium available

There was no provision in the voluntary arrangement procedure, as originally enacted1, whereby an indulgence (or moratorium) in respect of its debts was allowed to the company whilst the arrangement was being formulated and presented to the meetings for consideration, whether by way of an interim order of the court, or otherwise. In this respect, the procedure could be contrasted with the individual voluntary arrangement procedure2. A creditor of the company could therefore proceed with any legal remedies or other steps he may have had available to him to

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