227E. Notification of judicial management order

Question 1

227E. Notification of judicial management order

Answer 1

General overview
[227E.01] Like in a receivership (s 222(1)), the company under judicial management shall state on every invoice order for goods or business letter issued by or on behalf of the company that it is being managed by a judicial manager. This serves to notify any third parties dealing with the company that it is insolvent, and any dealings should be on cash rather than credit terms unless s 227I applies.