Opportunity to respond to jurisdictional reports is mandatory before customs settlement duty enhancement; connected applications require consistent ad...
Specific customs headings for scaffolding components prevail over general classification, invalidating misclassification proceedings and enabling with...
Liquidator appointment under Section 34 requires consideration of creditor recommendations, valid professional authorisation, and preservation of vali...
A continuing personal guarantee remained enforceable despite the guarantor's resignation from the corporate debtor, because the deed expressly made the guarantee continuing, irrevocable and binding on demand. Revocation of a continuing guarantee was treated as operating only for future transactions and requiring notice to the creditor; communications to other consortium members were insufficient. Renewal of credit facilities was held not to amount to novation or a material variance discharging the surety, and liability continued for debt arising under the original loan documents. The challenge based on alleged non-consideration of the guarantor's objections was also rejected.
A continuing personal guarantee remained enforceable despite the guarantor's resignation from the corporate debtor, because the deed expressly made the guarantee continuing, irrevocable and binding on demand. Revocation of a continuing guarantee was treated as operating only for future transactions and requiring notice to the creditor; communications to other consortium members were insufficient. Renewal of credit facilities was held not to amount to novation or a material variance discharging the surety, and liability continued for debt arising under the original loan documents. The challenge based on alleged non-consideration of the guarantor's objections was also rejected.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4794
Join Channel
TaxTMI 
