Set-off: Difference between revisions

498 bytes removed ,  26 October 2018
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====[[Insolvency set-off]]====
====[[Insolvency set-off]]====
It has been treated as an authoritative statement of the law - see {{Casenote|National Westminster Bank Ltd|Halesowen}}<ref>https://en.wikipedia.org/wiki/National_Westminster_Bank_Ltd_v_Halesowen_Presswork_%26_Assemblies_Ltd Wikipedia has something to say about it too</ref> since 1972 that one cannot contract out of [[insolvency set-off]].  The operation of the insolvency set-off rules was automatic and mandatory upon the commencement of winding-up, and a bank could agree ''not'' to exercise the right to combine accounts.
{{insolvency set-off capsule}}
{{seealso}}  
{{seealso}}  
*For setting off of exposures under a master agreement versus other general exposures against the counterparty, see:
*For setting off of exposures under a master agreement versus other general exposures against the counterparty, see: