Benami transaction and beneficial ownership: documentary and circumstantial evidence show payors were true beneficiaries, resulting in PBPTA consequen...
Denial of Preferential Treatment under SAFTA overturned where unchallenged Country of Origin certificate warranted exemption under Notification benefi...
Continuing offence of money-laundering: discharge set aside and proceedings reinstated where laundering continued after inclusion of predicate offence...
Invocation of the guarantee was held to be a condition precedent to initiating insolvency proceedings against a personal guarantor; contractual terms of the deed govern guarantor liability and were not altered by a subsequent compromise or MoU, so settlement did not remove the need to invoke the guarantee. A demand notice in Form B without prior invocation cannot substitute as invocation; reliance on Rule 7(1) notice was rejected. Because the financial creditor failed to invoke the guarantee before issuing Form B, the Section 95 application was held maintainable only if invocation had occurred and the admission was set aside; appeals allowed.
Invocation of the guarantee was held to be a condition precedent to initiating insolvency proceedings against a personal guarantor; contractual terms of the deed govern guarantor liability and were not altered by a subsequent compromise or MoU, so settlement did not remove the need to invoke the guarantee. A demand notice in Form B without prior invocation cannot substitute as invocation; reliance on Rule 7(1) notice was rejected. Because the financial creditor failed to invoke the guarantee before issuing Form B, the Section 95 application was held maintainable only if invocation had occurred and the admission was set aside; appeals allowed.
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