Guarantor insolvency scope expanded to include corporate guarantors and liquidation procedures under insolvency law. The amendment substitutes references to a personal guarantor and its bankruptcy with language covering either a corporate guarantor or personal guarantor, ... Summary
Guarantor insolvency scope expanded to include corporate guarantors and liquidation procedures under insolvency law.
The amendment substitutes references to a personal guarantor and its bankruptcy with language covering either a corporate guarantor or personal guarantor, and either liquidation or bankruptcy proceedings, thereby extending the provision's coverage to insolvency processes of corporate as well as personal guarantors.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.