Legal guidance

Insolvency set off - A statutory duty without exception

The legal duty of the insolvency courts to apply insolvency set off in all insolvency proceedings is mandatory and is said to be self-executing. Failure to apply set off when there are cross claims arising between a creditor and alleged bankrupt renders the proceeding fundamentally defective and void from the outset. Insolvency set off. Deliberate failure by a judge to apply the law is…
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