Mondaq Asia Pacific: Insolvency/Bankruptcy/Re-structuring
The Administrators were not entitled to charge the owners of goods to retrieve their unsold items from the auction house.
Bartier Perry
Company directors have 'safe harbour' protection from insolvent trading claims while they develop plans to restructure.
Corrs Chambers Westgarth
Guarantor unsuccessfully sought to rely on the rule against double satisfaction to reduce his liability to a creditor.
Nishith Desai Associates
Our expertise and opinion is regarded as an authority amongst the upper echelons of international law.
NovoJuris Legal
Under the Insolvency and Bankruptcy Code, 2016 (the Code), a financial creditor can initiate a Corporate Insolvency...
Recently, NCLAT faced a situation in State Bank of India v. Mr. V. Ramakrishnan and Ors. [Company Appeal (AT) Insolvency no. 213 of 2017], where the State Bank of India had appealed...
S.S. Rana & Co. Advocates
The Hon'ble Calcutta High Court on February 2, 2018, upheld the validity of Section 7, 8 and 9 of the Insolvency and Bankruptcy Code, 2016 in the case of Akshay Jhunjhunwala & anr. v. Union of India.
S.S. Rana & Co. Advocates
The Insolvency and Bankruptcy Board of India signed a Memorandum of Understanding with the Reserve Bank of India on March 12, 2018. he purpose of the MoU is to assist and cooperate with each other for effective implementation of the Insolvency and Bankruptcy Code, 2016.
Dhaval Vussonji & Associates
Insolvency, explained simply, refers to an individual or an entity's inability to pay debts due from it. The recent and most illustrious enactment by the Parliament, the Insolvency and Bankruptcy Code, 2016 encompasses this wide-ranging arena of insolvency and bankruptcy.
M Mulla Associates
The prohibition contained in section 14 of the Insolvency and Bankruptcy Code 2016, ("the Act") against the initiation and continuation of legal proceedings...
Vaish Associates Advocates
IV. Fresh proceedings before NCLT under IBC admissible regardless of winding up petitions before Company Court admitted and pending disposal
Nishith Desai Associates
Insolvency Diaries- Essar Steel's Creditors Meet Today
S.S. Rana & Co. Advocates
The amendments to the IBC have made an attempt to ensure that only viable resolution plans from credible sources are accepted.
Khurana and Khurana
The Inception of Insolvency and Bankruptcy code [IB Code] was envisaged as a historical moment in the Indian corporate sector as it is a single uniform comprehensive legislation that aims...
LexCounsel Law Offices
The aforesaid decision follows from the appeal filed by the SBI the financial creditor, against the order of the NCLT Chennai restraining them from proceeding against the property of a personal guarantor of the...
S.S. Rana & Co. Advocates
The resolution professional shall within seven days of his appointment, appoint one registered valuer to determine the fair value and the liquidation value of the corporate debtor.
The issue of simultaneous liability recently arose before the NCLT, Delhi Bench under the Insolvency and Bankruptcy Code, 2016
Nishith Desai Associates
The Reserve Bank of India ("RBI") has in the past, issued various instructions aimed at resolution of stressed assets in the economy, while also introducing certain specific schemes for resolution ...
The Reserve Bank of India has introduced a revised framework in relation to the resolution of stressed assets withdrawing all extant instructions in this regard, such as SDR, S4A and CDR.
Nishith Desai Associates
Corporate Debtor itself or any other creditor may file fresh proceedings under the Bankruptcy Code regardless of admitted and pending winding up petitions before Company Courts
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ClarkeKann Lawyers
PBAs are trust accounts, intended to protect down the line subcontractors from the insolvency of up the line contractors.
Worrells Solvency & Forensic Accountants
Section 588FDA of the Corporations Act provided that it was voidable as an unreasonable director-related transaction.
Khurana and Khurana
The Corporate Debtor/Respondent (Uttam Galva Metallics) defaulted in the payment to the Operational Creditor/Appellant (Macquarie Bank) amounting to USD 6,321,337 equivalent to Rs. 43,11,15,190.
Worrells Solvency & Forensic Accountants
This article examines challenges to the entitlement of creditors in bankrupt estates to vote at meetings of creditors.
Stacks Law Firm
Creditor sues for money received by bankrupt from his late mother's superannuation fund.
Dhaval Vussonji & Associates
The Insolvency and Bankruptcy Code, 2016 (IBC) has consolidated and amended the laws relating to reorganization and insolvency of corporate persons, partnership firms and individual firms.
Corrs Chambers Westgarth
Options available to liquidators when examinee fails to appear including option of adverse costs orders if examinee appeals.
Worrells Solvency & Forensic Accountants
The judge provided guidance on some key principles around a bankrupt trustee's right of indemnity out of trust assets.
Dhir & Dhir Associates
The moratorium in terms of Insolvency and Bankruptcy Code, 2016 (‘IBC') means a period wherein no judicial proceedings for recovery, enforcement of security interest, sale or transfer of assets, or termination of essential contracts can be instituted or continued against the Corporate Debtor.
Worrells Solvency & Forensic Accountants
AFSA has recently released annual statistics, trends and also data about personal insolvency causes for the 2016-17 year.
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