Limitation for EPC operational debt runs from each payment default, preventing insolvency proceedings on time-barred claims.

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....Limitation for operational-debt insolvency applications runs from the individual date of default for each due and payable invoice or payment claim, not from continuing non-payment or subsistence of an EPC contract. A written acknowledgment by the corporate debtor before limitation expires is required to reset limitation; unilateral legal notices do not do so. Completed contractual milestones may constitute operational debt, while suspension, idling and demobilisation claims are uncrystallised damages unless adjudicated. Prolonged suspension does not automatically frustrate or terminate an EPC contract where termination requires election and time is not essential. A genuine pre-existing dispute must be evident from prior conduct or communications. The time-barred insolvency application was set aside, without affecting contractual dispute-resolution remedies.....