Commentary

23.9 Insolvency: pre-1987 terminology

BOILERPLATE AND COMMERCIAL CLAUSES vol 4(3)
| Commentary

23.9 Insolvency: pre-1987 terminology

| Commentary

23.9 Insolvency: pre-1987 terminology

In agreements drafted before the coming into force of the Insolvency Act 1986 it was usual to refer, when specifying insolvency events relevant to a corporate party, only to the appointment of ‘a receiver’ in respect of the party’s assets, and this form is still occasionally encountered in forms of agreement that have not since been revised. However, it is now essential to specify the officers appointable under the Insolvency Act 1986, that is, administrators and administrative receivers. Reference to receivership (to cater for appointment, for example, under powers contained in a debenture) should also be

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