Mondaq All Regions: Insolvency/Bankruptcy/Re-structuring
Corrs Chambers Westgarth
The Federal Court appointed a Special Purpose Liquidator (SPL) to investigate suspected illegal phoenix activity.
Maples Group
The BVI High Court, Commercial Division has, in a first for the jurisdiction, appointed "light-touch" joint provisional liquidators ("RPLs")
McCarthy Tétrault LLP
As Yeats said in his poem, The Second Coming: "mere anarchy is loosed upon the world". While perhaps not anarchy, certainly most insolvency practitioners ...
Fogler, Rubinoff LLP
In the much anticipated decision, Orphan Well Association et al. v. Grant Thornton Limited et al.1, (Redwater), the Supreme Court of Canada (SCC)
In a recent case before the Grand Court of the Cayman Islands, Walkers successfully acted for the Joint Official Liquidators of China Branding Group Limited (in Official Liquidation) (the "JOLs") in respect of a creditor's appeal against the JOLs' partial rejection of his proof of debt claim.
VGC Law Firm
The DRT admitted the said applications and passed a decree in favor of the bank.
Nishith Desai Associates
Section 29A was introduced in the Insolvency and Bankruptcy Code 2016 (IBC) in 2017 to prevent certain kinds of persons, painted tainted under the law ...
Singh & Associates
The Reserve Bank of India vide its circular dated 07.02.2019 (A.P. (DIR Series) Circular No. 18) has relaxed the applicability of External Commercial Borrowing guidelines in respect to borrowing to be arranged by ...
Singh & Associates
IBBI issued a circular on 17 October, 2018 directing that with effect from 1 February, 2019, no Insolvency Professional shall appoint a person other than a Registered Valuer to conduct any valuation under the Code or any of the regulations made thereunder.
Singh & Associates
In August 2018, many new changes were introduced in the Code...
Dhaval Vussonji & Associates
Interestingly, the Resolution Applicant also filed an application for withdrawal of the Resolution Plan before the NCLT
Singh & Associates
The Division Bench of Supreme Court while hearing an appeal against the order of NCLAT in the matter of Vijay Kumar Jain versus Standard Chartered Bank & Ors., Civil Appeal NO.8430 OF 2018 allowed the appeal ...
Singh & Associates
The Insolvency and Bankruptcy Board of India vide its notification No. IBBI/2019-20/GN/REG040 introduced the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2019 ...
Spectrum Legal
The Supreme Court recognised the significant change in the trigger mechanism for a financial creditor‘s application under the Code.
2018 proved to be a constitutional litmus test for the Insolvency and Bankruptcy Code, 2016, with ten writ petitions and one special leave petition assailing the constitutional validity of the Code.
Nishith Desai Associates
With almost two years since the introduction of the Insolvency and Bankruptcy Code, 2016 ("IBC" and "Code"), there have been various challenges in the effective implementation of the Code.
On 1 February 2019, the South African Minister of Finance published the Financial Matters Amendment Bill (the "Bill") containing a long-awaited amendment to section 83 of the Insolvency Act, 1936.
Thompson Coburn LLP
In the recent Chicago bankruptcy case In re Gouletas, U.S. Bankruptcy Judge Timothy A. Barnes ruled that obligations are not extinguished by statutes of limitation and, even after the expiration of the limitation period, ...
Arnold & Porter
On January 17, 2019, the Fifth Circuit Court of Appeals (Appellate Court) overruled the decision of the United States Bankruptcy Court for the Southern District of Texas (Bankruptcy Court)
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VGC Law Firm
The same have been briefly discussed in the present article.
The Specific Relief (Amendment) Act, 2018 (the "Amendment Act") amending the provisions of the Specific Relief Act, 1963 (the "Act") came into force on August 1, 2018.
The amount of any liability in respect of any of the guarantee or indemnity for any of the items referred to in sub-clauses (a) to (h) of this clause.
Clarus Law Associates
On 11.10.2018, a division bench of the Hon'ble Supreme Court of India comprising of Justice R.F. Nariman and Justice Navin Sinha in the matter of B.K. Educational Services Private Limited v Parag Gupta And Associates, ...
Dhaval Vussonji & Associates
In our earlier article titled, "Homebuyers now Financial Creditors: Too many cooks spoil the resolution process?", we analysed the impact of the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018, ...
Fair & Just Legal Solutions LLP
The NCLT, Mumbai, accepted the application of Nisus and passed the order for commencement of insolvency resolution process.
Fair & Just Legal Solutions LLP
The Insolvency and Bankruptcy Code, 2016 ("Code") is considered as one of the biggest economic reforms.
VGC Law Firm
It is apparent from the ongoing practice that IRPs consider the date of receipt of order as the date of the appointment.
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.
The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018 brings about significant changes to improve the insolvency resolution framework in India.
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