The following provisions of the Insolvency Act 1986 apply, with relevant modifications1, to the administration in bankruptcy of the insolvent estate of a deceased debtor2 where an insolvency administration order3 has been made:
(1) the provisions4 relating to the powers of the court in bankruptcy5;
(2) the general provisions6 relating to individual insolvency7;
(3) the interpretation provisions8 relating to the insolvency of individuals and bankruptcy9;
(4) the provisions10
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This Practice Note examines:•why negative pledge clauses are used in commercial transactions •the consequences of breaching negative pledge provisions•how negative pledges are viewed in the context of security and quasi-security, and•key considerations when drafting a negative pledge clauseWhere
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