Novation

A "Sale and Purchase Agreement" was entered into between NAB, Clydesdale and Promontoria Holding 170BV on 31 May 2016. This contract was novated to Promontoria (Oak) Ltd on the 5 July 2016. The "Assignment and Assumption Deed" between NAB, Clydesdale and Oak was entered into on 16 Sept 2016. 
 

Difference between assignment (or assignation) and novation

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