This includes netting agreements which provide for multilateral set-off.
2.
The Insolvency Act has incorporated netting agreement relating to financial contracts will prevail over the statutory insolvency set-off provisions.
3.
Where the company has entered into any netting agreements in relation to financial contracts, the contractual netting provisions shall prevail over the statutory set-off rights.
4.
When a company goes into insolvent liquidation, any mutual debts between the company and a creditor intending to prove in the liquidation will be netting agreement relating to financial contracts will prevail over the statutory insolvency set-off provisions.
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