‘On 1st October 2017, the Pre-Action Protocol for Debt Claims, (the “Protocol”) is to come into force. This raises the question: what is a ‘debt’? For this Protocol, the only ‘guidance’ provided is on the Information Sheet (Annex 1), “you have received this [notice] because a business believes that you owe it money”. None of the draft or consultation papers provide further guidance or seek to define the term ‘debt’ under English law.’
4 KBW, 22nd September 2017
Source: www.4kbw.net
