Mondaq Asia Pacific: Insolvency/Bankruptcy/Re-structuring
BRI Ferrier
Divesting shares for no consideration under a DOCA does appear to be a drastic measure for a deed administrator to adopt.
Surry Partners
Be careful with Creditors Statutory Demands because a later request for interest can cause the enforcement mechanism to fail.
Fangda Partners
On August 11, 2017, the Dalian Intermediate People's Court approved the proposed bankruptcy restructuring plan of Dongbei Special Steel Group Co. Ltd., a state-owned enterprise ("SOE")...
Stephenson Harwood
This is the first Hong Kong decision where a foreign scheme of arrangement was sanctioned by the Hong Kong Court following a letter of request from a foreign Court.
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 ...
Trilegal
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
VGC Law Firm
The RBI in exercise of its powers under the Banking Regulation Act, 1949 and the Reserve Bank of India Act, 1934 on 12th February, 2018 brought in a revised framework for resolution of stressed assets to overhaul the existing framework, ...
VGC Law Firm
Presently in India there is a systemic vacuum which exists with regard to bankruptcy situations in financial firms.
Singh & Associates
Section 53: Section 53 of Companies Act, 2013 deals with prohibition on issuance of shares at discount.
Singh & Associates
The Central Board of Direct Taxes have issued a circular w.r.t relaxation of norms relating to Minimum Alternate Tax (MAT) for the Corporate Debtors against whom the Corporate Insolvency Resolution Process (CIRP) has been initiated...
Singh & Associates
The fees w.r.t other professionals appointed by Insolvency Resolution Professional shall not form part of the insolvency resolution process cost.
Singh & Associates
This requirement amounts to outsourcing responsibilities of an insolvency professional to another person.
Singh & Associates
An Insolvency Professional shall exercise reasonable care and diligence and take all necessary steps to ensure that the corporate person undergoing any process under the Code complies with the applicable laws.
Singh & Associates
On 3rd January 2018, the Board has directed that the Insolvency Professional in all his communications, whether by way of public announcement or otherwise to a stakeholder or to an authority, shall prominently state...
Singh & Associates
On 31st December 2017, The Insolvency and Bankruptcy Board of India ("IBBI/the Board") has amended Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.
Khaitan & Co
In our previous publication on the subject, we had discussed the changes introduced by the Ordinance dated 23 November 2017, amending the Insolvency and Bankruptcy Code, 2016.
Singh & Associates
Section 14(2) of the Insolvency and Bankruptcy Code, 2016 (I&B Code 2016) provides that during the moratorium period the supply of essential goods or services ...
S.S. Rana & Co. Advocates
In proceedings with regards to the provisions of the Insolvency and Bankruptcy Code, 2016 the Bombay High Court has passed a landmark judgement ruling that an application under IBC may be made even in cases where ...
Singh & Associates
Recently, the Hon'ble High court of Bombay in the Company Application1 made in Company Petition No. 434 of 20152 ...
Most Popular Recent Articles
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.
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.
Singh & Associates
The Union Cabinet, in its meeting held in the month of June 2017, has approved19 the Financial Resolution and Deposit Insurance Bill, 2017...
Worrells Solvency & Forensic Accountants
AFSA has recently released annual statistics, trends and also data about personal insolvency causes for the 2016-17 year.
Worrells Solvency & Forensic Accountants
This article examines challenges to the entitlement of creditors in bankrupt estates to vote at meetings of creditors.
Worrells Solvency & Forensic Accountants
The judge provided guidance on some key principles around a bankrupt trustee's right of indemnity out of trust assets.
Corrs Chambers Westgarth
Options available to liquidators when examinee fails to appear including option of adverse costs orders if examinee appeals.
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.
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