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The Insolvency (Northern Ireland) Order 1989

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This is the original version (as it was originally made).

Deeds of arrangement to which this Chapter applies

209.—(1) A deed of arrangement to which this Chapter applies shall include any of the instruments mentioned in paragraph (2), whether under seal or not,—

(a)made by, for or in respect of the affairs of a debtor for the benefit of his creditors generally;

(b)made by, for or in respect of the affairs of a debtor who was insolvent at the date of the execution of the instrument for the benefit of any 3 or more of his creditors;

otherwise than in pursuance of Chapter II or Chapter I of Part IX.

(2) The instruments referred to in paragraph (1) are—

(a)an assignment of property;

(b)a deed of or agreement for a composition;

and in cases where creditors of the debtor obtain any control over his property or business—

(c)a deed of inspectorship entered into for the purpose of carrying on or winding up a business;

(d)a letter of licence authorising the debtor or any other person to manage, carry on, realise or dispose of a business with a view to the payment of debts; and

(e)any agreement or instrument entered into for the purpose of carrying on or winding up the debtor’s business, or authorising the debtor or any other person to manage, carry on, realise or dispose of the debtor’s business with a view to the payment of his debts.

(3) Articles 218, 221, 222(1)(a) and 223 shall not apply to a deed ofarrangement made for the benefit of any 3 or more of the debtor’s creditors unless it is in fact for the benefit of the debtor’s creditors generally.

(4) In determining for the purposes of this Chapter the number of creditors for whose benefit a deed is made, any 2 or more joint creditors shall be treated as a single creditor.

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