Mayhew v King and others; Chaucer Insurance plc (Part 20 claimant) v Folgate London Market Ltd (formerly Towergate Stafford Knight Co Ltd) (Part 20 defendant) – WLR Daily

Posted April 4th, 2011 in appeals, contracts, insurance, law reports by sally

Mayhew v King and others; Chaucer Insurance plc (Part 20 claimant) v Folgate London Market Ltd (formerly Towergate Stafford Knight Co Ltd) (Part 20 defendant) [2011] EWCA Civ 328; [2011] WLR (D) 117

“A clause in a settlement agreement relieving the paying party from its obligation to make payment to the receiving party in the event of the latter’s insolvency infringed the ‘anti-deprivation principle’ which prevented the making of a valid contract by which a person’s property was to remain his until bankruptcy but on such event was to pass to someone else and be taken away from his creditors.”

WLR Daily, 31st March 2011

Source: www.iclr.co.uk

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