Mondaq Asia Pacific: Insolvency/Bankruptcy, Re-structuring
Corrs Chambers Westgarth
The Court could use its broad remedial powers to override the trust deed and appoint special purpose receivers.

Corrs Chambers Westgarth
The appointment of this administrator was ruled invalid, void and of no effect, because it was for an improper purpose.
Clayton Utz
This decision may give liquidators greater scope to find a possible extension of time-frames in which they have to work.
King & Wood Mallesons
This article summarizes recent judicial practice in the calculation of losses caused by defective forced liquidations.
Mayer Brown JSM
The last two years have seen a number of foreign incorporated companies generating court decisions in Hong Kong that provide timely and important guidance in windings-up with cross-border issues.
Mayer Brown JSM
Did you know that when a liquidator makes a court application, it is important to identify the appropriate applicant, not only as a procedural matter, but also from a costs perspective?
Clyde & Co
Liquidators may often consider it necessary to bring proceedings on behalf of the insolvent company to seek to recover assets or obtain compensation on the company's behalf.
Mayer Brown JSM
On 11 November 2015, the Court of Final Appeal ("CFA") delivered its judgment in the high-profile Yung Kee case.
Phoenix Legal
The introduction of the Insolvency and Bankruptcy Code, 2015 (the Code) in the Lok Sabha by Finance Minister Arun Jaitley on December 21, 2015 was greeted by unanimous applause and a sigh of relief from all stakeholders.
Phoenix Legal
In Pegasus Assets Reconstruction P Ltd v M/s Haryana Concast Limited a division bench of the Supreme Court held that a company court cannot wield any control in respect of a sale of secured assets by a secured creditor.
Phoenix Legal
No single umbrella legislation governs insolvency and bankruptcy proceedings in India. Instead, there is a slew of legislation governing the legal framework, including:
Nishith Desai Associates
CNBC TV18: Draft Bankruptcy Bill Soon?
Rajani Associates
The concept of Strategic Debt Restructuring ("SDR") has been introduced by the Reserve Bank of India in the SDR Scheme to help banks recover their loans by taking control of the distressed listed companies.
Finsec Law Advisors
The RBI, in its recent circular titled "Strategic Debt Restructuring Scheme", provided a framework whereby lender banks have been granted enhanced capabilities to initiate a change in ownership of a defaulting borrower...
Singh & Associates
The Reserve Bank of India (RBI) on 8 June 2015 announced Strategic Debt Restructuring (SDR) Scheme which allows banks and Term-lending and Refinancing Institutions to convert their loans into equity stake.
Khaitan & Co
Often companies finds themselves in a situation where traditional means of revival are not sufficient.
Budidjaja & Associates
The New Insurance Law provides that the procedures and requirements relating to a creditor's application are to be governed through the OJK regulations.
ABNR Law
Registered vessels with a gross weight of 20 cubic metres or more and registered aircraft can also be secured by way of a mortgage.
Azman, Davidson & Co
A question which company liquidators occasionally ask is whether all the bills of the solicitors, accountants, auctioneers, brokers or other persons, who have provided services to the liquidators, have to be taxed...
Skrine & Co
The Privy Council in Singularis Holdings Ltd v Pricewaterhouse Coopers [2014] UKPC 36 ("Singularis") has clarified the extent to which courts can render common law assistance for cross-border insolvencies.
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Chapman Tripp
If a receiver wants to include customer databases in any sale, he must first get permission from the affected customers.
Chapman Tripp
We expect further clarity to emerge as courts apply the Supreme Court principles in future voidable transaction cases.
Rajani Associates
The concept of Strategic Debt Restructuring ("SDR") has been introduced by the Reserve Bank of India in the SDR Scheme to help banks recover their loans by taking control of the distressed listed companies.
LexCounsel Law Offices
The Ujwal Discom Assurance Yojana ("UDAY"), a scheme for the financial turnaround of power distribution companies ("Discoms"), was approved by the Cabinet on November 5, 2015...
Colin Biggers & Paisley
To mitigate risk, building companies considering a DOCA should also consider a risk assessment of all past projects.
Phoenix Legal
No single umbrella legislation governs insolvency and bankruptcy proceedings in India. Instead, there is a slew of legislation governing the legal framework, including:
Carroll & O'Dea
It is crucial to advise your client to respond promptly to a statutory demand, to avoid the presumption of insolvency.
Corrs Chambers Westgarth
The appointment of this administrator was ruled invalid, void and of no effect, because it was for an improper purpose.
Phoenix Legal
In Pegasus Assets Reconstruction P Ltd v M/s Haryana Concast Limited a division bench of the Supreme Court held that a company court cannot wield any control in respect of a sale of secured assets by a secured creditor.
Kemp Strang Lawyers
This judgment is a helpful summary of principles associated with an application to terminate the winding-up of a company.
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