Version Superseded: 06/04/2016
Point in time view as at 26/03/2001. This version of this provision has been superseded.
Insolvency Act 1986, Section 345 is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
(1)The following applies where a contract has been made with a person who is subsequently adjudged bankrupt.
(2)The court may, on the application of any other paty to the contract, make an order discharging obligations under the contract on such terms as to payment by the applicant or the bankrupt of damages for non-performance or otherwise as appear to the court to be equitable.
(3)Any damages payable by the bankrupt by virtue of an order of the court under this section are provable as a bankruptcy debt.
(4)Where an undischarged bankrupt is a contractor in respect of any contract jointly with any person, that person may sue or be sued in respect of the contract without the joinder of the bankrupt.
Modifications etc. (not altering text)
C1Ss. 342–345 applied with modifications by S.I. 1986/1999, art. 3, Sch. 1 Pt. II
C2S. 345 excluded (25.4.1991) by Companies Act 1989 (c. 40), ss. 154, 155, 164(1), 182(4), Sch. 22 para. 7(1); S.I. 1991/878, art. 2, Sch. .
S. 345 excluded (11.12.1999) by S.I. 1999/2979, reg. 16(1)
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