A creditor's threat to support a third party's winding up application does not constitute illegitimate economic pressure where the creditor is not shown to have known the application was improper, and the threat amounts to no more than invoking winding up process in good faith to recover amounts due. A guarantee covering 'debts and monetary liabilities which are, or which may become, payable' is a guarantee of performance (not merely of accrued debts) and extends to damages for the principal debtor's failure to carry out the contract. An implied obligation of good faith cannot override express contractual rights, and the law does not currently recognise an overriding standard of reasonableness that would deny a party the exercise of its contractual rights in the promotion of its legitimate commercial interests.
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