P - Principal Debt Discharged
20/9/19
BANK OF BARODA v MANIAR [2019] EWHC 2463 (Comm)
After receiving payment under a scheme of arrangement in Ireland relating to the liabilities of the debtor company, the Bank could not sue guarantors for the company’s liabilities. Irish law experts agreed that acceptance of payment discharged the company’s liabilities. It was not open to the Bank to contend otherwise as it had not pleaded the point or challenged the agreed position taken by the experts.