Mondaq Asia Pacific: Insolvency/Bankruptcy/Re-structuring
Corrs Chambers Westgarth
The proponent of a DOCA, an attempt to save the company, should be allowed to vote as a creditor in favour of the DOCA.
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...
Trilegal
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...
Singh & Associates
Under section 433(e) of the Companies Act, 1956 and under Section 271(1)(a) of the unamended Companies Act, 2013 a company could be wound up if it was "unable to pay its debts".
Singh & Associates
Before we dwell further on the topic of this article, it is imperative to take note of the relevant provisions of the Insolvency and Bankruptcy Code, 2016 (the "Code") that remain bone of contention.
Dhir & Dhir Associates
The recently introduced legal, regulatory and policy changes that have been introduced in the Indian BFSI sector have not only geared up the pace at which the sector is operating but has also created...
Nishith Desai Associates
Recently, the Supreme Court of India ("Supreme Court") in M/s. Innoventive Industries Ltd ("Innoventive") v. ICICI Bank & Anr ("Respondents") has passed their first ruling on the newly enacted Insolvency and Bankruptcy Code, 2016 ("Code").
Khaitan & Co
The Allahabad High Court was presented with the question as to whether the grant of a moratorium on any claim / suit or enforcement of security interest against a corporate debtor implies an embargo on the rights of the lenders to institute parallel proceedings...
Singh & Associates
Though, initially it was thought that Insolvency and Bankruptcy Code 2016 (I&B Code 2016) came as boon for all those Creditors who otherwise have to wait for years to settle their dues.
Singh & Associates
How easy it was to hire an advocate, who used to draft a simple reminder known as Legal Notice/Demand Notice in a legal language and the same was served on the Debtor.
Singh & Associates
The National Company Law Tribunal, Hyderabad (hereinafter referred as "Adjudicating Authority"), after hearing to all the concerned parties on 23.01.2017
Cyril Amarchand Mangaldas
India has long recognised the right of foreign creditors to participate in the winding up of Indian companies.
Dhir & Dhir Associates
The 9th of August, 2017 came as a nightmare to innumerable homebuyers as the National Company Law Tribunal (‘NCLT') admitted insolvency proceedings against one of India's biggest real estate developers, Jaypee Infratech Ltd. on a petition filed by IDBI Bank.
Samvad Partners
The IBC, 2016, that was passed by Parliament and received Presidential assent on May 28, 2016, aims at a significant overhaul of the existing legal framework of insolvency and bankruptcy resolution.
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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.
Clayton Utz
To perfect a security interest by possession, a secured party must have actual or apparent possession of the property.
Corrs Chambers Westgarth
The Federal Court recently considered whether a security interest could be perfected by the appointment of receivers.
Corrs Chambers Westgarth
Notwithstanding the arrangement for deferral of payment, the creditor suffered a loss in the amount of unpaid invoices.
Worrells Solvency & Forensic Accountants
When it comes to acronyms, initialisms, and abbreviations, the insolvency industry is no different to other industries.
Luthra & Luthra Law Offices
The Jaypee Infratech Insolvency has once again brought to the fore the issue of legal position of flat buyers and remedies available to them under the Insolvency and Banking Code ("IBC").
Worrells Solvency & Forensic Accountants
Most pre-insolvency advisor activity is now centred around director misconduct, and not illegal phoenix activity.
Clayton Utz
Directors should get guidance on how safe harbour reforms could affect a business and review long-term supply contracts.
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").
Norton Rose Fulbright Australia
A litigation funding agreement may not protect an insolvent or impecunious plaintiff from a security for costs order.
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