Mondaq Asia Pacific: Insolvency/Bankruptcy/Re-structuring
Clayton Utz
In light of these Boart Longyear decisions, Courts will continue to vigorously adjudicate class constitution challenges.
The sole shareholder of the companies failed in his attempt to challenge the validity of the administrator appointments.
Proskauer Rose LLP
Earlier this year, Hong Kong's insolvency regime turned a corner with the coming into effect of much needed amendments to its corporate insolvency statute, the Companies Ordinance.
Singh & Associates
According to the World Bank Report of Doing Business, the insolvency resolution process in India is complex, time consuming and expensive due to presence of multiple laws.
Singh & Associates
Not so long, all the creditors, as well as the debtors were welcoming the move of the legislature in introducing the now most complicated Insolvency and Bankruptcy Code, 2016 but now everybody has realized that the code ...
Singh & Associates
The law is still crystallizing the fact as to which entities can come under the respective categories for initiation of CIRP as mentioned above.
Dhaval Vussonji & Associates
The Insolvency and Bankruptcy Code, 2016 (the "Code") was passed by the Parliament on May 5, 2016 and received the assent of the President of India on May 28, 2016.
Singh & Associates
The Insolvency and Bankruptcy Code, 2016 passed by the Parliament is a welcome overhaul of the existing framework dealing with insolvency of corporate, individuals, partnerships and other entities.
Nishith Desai Associates
The Supreme Court of India ("Supreme Court") in Mobilox Innovations Private Limited ("Mobilox") Vs. Kirusa Software Private Limited ("Kirusa") has finally settled the issue regarding the interpretation of ‘dispute in existence' under the Insolvency and Bankruptcy Code, 2016 ("the Code") providing much relief and clarity to operational debtors who may have a genuine dispute regarding the debt, but may not have yet initiated legal proceedings.
S.S. Rana & Co. Advocates
The objective of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the 'Code') is multi-faceted.
Vaish Associates Advocates
The NCLT in the matter of Synergies- Dooray Automotive Limited and in the matter of Ms. Mamta Binani vs. Edelweiss Asset Reconstruction Company Limited and Others approved...
Phoenix Legal
Valuation of assets is one of the core features of the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016.
Khaitan & Co
The Hon'ble Supreme Court allowed the appeal of Mobilox Innovations Private Ltd. (Mobilox) against the judgment of the National Company Law Appellate Tribunal (NCLAT) dated 24 May 2017.
Nishith Desai Associates
The present ruling arises in a writ petition filed by directors of a corporate debtor challenging an order of a DRT. In terms of the order challenged, DRT permitted proceedings against the directors...
Insolvency proceedings of Jaypee Infratech Limited is one of the most keenly watched proceedings under the IBC. Apart from the introduction of a new class of creditors, the proceedings have also seen...
Singh & Associates
The Honorable National Company Law Appellate Tribunal on July 31, 201726 ruled that mere clause of arbitration in an agreement cannot be termed to be an existence of dispute...
Singh & Associates
In the case of State Bank of India v. Essar Steel India Ltd., C.P (I.B) No. 40/7/NCLT/AHM/2017, the National Company Law Tribunal, Ahmedabad Bench has interpreted Section 7(5)(a) of the Insolvency and Bankruptcy Code...
Singh & Associates
Black Law defines Moratorium as "Delay in performing an obligation or taking an action legally authorized or simply agreed to be temporary".
Singh & Associates
The much debated I&B Code, 2016 was enacted by the Government to correct the mounting burden of debts on business and corporate houses and to improve the NPA status of banks.
Singh & Associates
The Insolvency & Bankruptcy Code, 2016 (hereinafter referred to as "The Code") was ushered in with much fervor and enthusiasm as an elixir possessing a cure to all infirmities plaguing...
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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.
Worrells Solvency & Forensic Accountants
When it comes to acronyms, initialisms, and abbreviations, the insolvency industry is no different to other industries.
Clayton Utz
Directors should get guidance on how safe harbour reforms could affect a business and review long-term supply contracts.
Worrells Solvency & Forensic Accountants
Most pre-insolvency advisor activity is now centred around director misconduct, and not illegal phoenix activity.
Jones Day
In Mighty River International Ltd v Hughes [2017] WASCA 152, the Western Australian Court of Appeal delivered a landmark decision approving the use of a "holding" deed of company arrangement ("DOCA").
Corrs Chambers Westgarth
Notwithstanding the arrangement for deferral of payment, the creditor suffered a loss in the amount of unpaid invoices.
Clayton Utz
To perfect a security interest by possession, a secured party must have actual or apparent possession of the property.
Pointon Partners
The operation of the safe harbour will drastically change the way that directors approach a company's solvency issues.
Corrs Chambers Westgarth
The Federal Court recently considered whether a security interest could be perfected by the appointment of receivers.
Worrells Solvency & Forensic Accountants
The Bankruptcy Act prescribes that the 3-year bankruptcy period does not commence until a Statement of Affairs is filed.
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