Creditors' Remedies against Debtors (10:III): Difference between revisions

Creditors' Remedies against Debtors (10:III) (view source)

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 *b) that the injury, loss or damage was caused by or contributed to by an act or omission;
 *c) that the act or omission was that of the person against whom the claim is or may be made;
-*d) that, having regard to the nature of the injury, loss or damage, a court proceeding would be an appropriate means to seek to remedy the injury, loss or damage
+*d) that, having regard to the nature of the injury, loss or damage, a court proceeding would be an appropriate means to seek to remedy the injury, loss or damage.
-If however, the cause of action occurred prior to the coming into force of the revised ''Limitation Act'', the previous limitation periods remain in effect.  Therefore, if the debtor’s acknowledgement in writing of the cause of action, or the last payment on the debt occurred prior to June 1, 2013, then the limitation period for the commencement of proceedings for the collection of debt is 6 years from that time.
 :'''NOTE:''' The limitation period does not apply to claims exempted under sections 3 or 7.