Section 377B(1)

Each of the following is an “excluded liability”— a liability with an original maturity of less than 7 days; an amount payable in respect of goods delivered, or a service provided, on or after the date on which the write-down order is made; an amount in respect of remuneration or expenses of a person appointed under section 377G to act as the manager of the write-down order (including amounts incurred before, as well as after, the person’s appointment in connection with the order or the application for the order); an amount secured on property of any kind, other than an amount secured by a charge which, as created, was a floating charge; an amount payable in respect of wages or salary arising under a contract of employment; a contribution or other sum payable in respect of an occupational pension scheme; an amount payable in respect of redundancy payments; an amount payable under a contract or other instrument involving financial services.

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Source: legislation.gov.uk · retrieved 2026-09-04