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High Court refuses summary judgment on foot of guarantee for the debts of a limited company, where the guarantor claimed that the original lender was estopped from relying on the guarantee where the guarantor had allegedly been told that if he sold his trawler he would not be held liable for the balance of the debt, on the grounds that - if proved - this gave rise to an arguable defence.
Summary judgment - guarantee - debts of limited company - transfer of debt from original lender - promissory estoppel - allegation that trawler had been sold on foot of a promise that he would be absolved of liability - whether an arguable defence.
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