In recent times, we have been instructed to provide a number of advices relating to the application of the socalled “rule against double proofs”. The rule potentially applies in any situation where a guarantor has previously paid money to a creditor pursuant to a guarantee and either the guarantor or the creditor seeks to prove in the winding up of the primary debtor.
This article lists the four situations that guarantors and creditors can find themselves in the event that the primary debtor goes into liquidation.
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