Supreme Court suspends liquidation of Siva Industries after promoters appeal
The Supreme Court (SC) stayed an order from the National Company Law Appellate Tribunal (NCLAT)…
Browsing: bankruptcy code
Insolvency regulator to get more teeth, punitive powers; main map amendments
Commenting on whether the IBBI should be further strengthened, a former central banker said: “There…
Insolvency code recoveries shrink to 33% – The New Indian Express
By Express press service NEW DELHI: The much-vaunted reform of the Narendra Modi government -…
Withdrawing the CIRP can save the debtor company
JThe purpose of the Insolvency and Bankruptcy Code, 2016 (IBC) is to maximize the value…
Your debtor’s assets are just a click away! – Insolvency/Bankruptcy/Restructuring
Turkey: Your debtor’s assets are just a click away! February 22, 2022…
The insolvency of the personal guarantor is independent of the insolvency resolution process of the debtor company
Facts The State Bank of India Stressed Asset Management Branch (SBI) has filed a petition…
If the exclusion of time from the CIRP helps the debtor company to restart its operations, such an exclusion must be authorized: NCLAT
The NCLAT Single Bench consisting of Judge M. Venugopal, Judicial Member in the case of…
“Credit Debtor Exception” for Post-Petition Interest on Unsecured Claims (In re Hertz)
The notice is Wells Fargo Bank, Indenture Trustee c. The Hertz Corp. (In re The…
During moratorium, cannot sue against ‘corporate debtor’: High Court of Punjab and Haryana : The Tribune India
Tribune press service Saurabh MalikChandigarh, February 16The Punjab and Haryana High Court has…
Substantive Opinions on Consolidation and Non-Consolidation – Insolvency/Bankruptcy/Restructuring
To print this article, all you need to do is be registered or log in…
What do you do if a debtor fails to adhere to their confirmed bankruptcy plan? | Miller Canfield
A recent opinion from the Michigan Court of Appeals explained that when a debtor defaults…
What do you do if a debtor fails to adhere to their confirmed bankruptcy plan?
Related practices and jurisdictions Tuesday, February 15, 2022 A recent opinion from the Michigan Court…
Adjudication of Third Party “Claims” by NCLT – Insolvency/Bankruptcy/Restructuring
To print this article, all you need to do is be registered or log in…
Free Bankruptcy Lawyer in Milwaukee, Wisconsin
Do I need a lawyer to file Bankruptcy? In contrast to those who file in…
IBC – Operational debt includes advance payment made to a debtor company for the provision of goods or services: Supreme Court
The Supreme Court observed that the operational creditor includes all those who provide or receive…
Debtor’s attorney failed to mitigate the attorneys’ fees incurred for the violation of Section 362(k) by rejecting the settlement offer; Proceed to trial | Smith Debnam Narron Drake Saintsing & Myers, LLP
Section 362(k) of the United States Bankruptcy Code allows a person injured by a willful…
Delaware Court Says Dismissal Eliminates Non-Debtor’s Exclusive Right to Provide Services to Debtor – Insolvency/Bankruptcy/Restructuring
Nine Point Energy Holdings, Inc. and its affiliates (collectively, “Nine Point” or “Nine Point Debtors”)…
Voluntary Liquidation: Think Global, Act Local – Budget Introduces Cross-Border Insolvency and Accelerates Voluntary Liquidation
Finance Minister Nirmala Sitharaman during her budget speech announced that changes have been proposed to…
Speedy Liquidation Should Be Preferred Over Unproductive, Lengthy Resolution Proceedings, Says NCLAT
The National Company Law Appeals Tribunal (NCLAT) has upheld a winding-up order for debt-ridden Siva…
Insolvency and bankruptcy code: the IBC leads to behavioral changes in debtor companies: economic survey
The Insolvency and Bankruptcy Code (IBC) has led to behavioral changes among corporate debtors, with…
The economic study stresses the need to simplify the voluntary liquidation process
A portal that combines all stages of the liquidation process, from application by companies to…
Corporate Restructuring Review | Flight. 21 No. 1 | January–February 2022 – Insolvency/Bankruptcy/Restructuring
In this problem: The year of bankruptcy: 2021 A brief chronicle of the year’s notable…
Roth IRAs, like traditional IRAs, are excluded from Georgia debtor bankruptcy
In a first-print case, the Eleventh Circuit has ruled that Roth IRAs are excluded from…
Delaware Court Says Dismissal Eliminates Non-Debtor’s Exclusive Right to Provide Services to Debtor | Jones Day
Nine Point Energy Holdings, Inc. and its affiliates (collectively, “Nine Point” or “Nine Point Debtors”)…
California Bankruptcy Court Says Debtor Barred From Challenging State Court Fraud Judgment Void – Finance & Banking
United States: California Bankruptcy Court Says Debtor Barred From Challenging State Court Fraud…
Liability of the personal guarantor of the debtor company vis-à-vis the insolvency and bankruptcy code
In accordance with article 128 of theIndian Contracts Act, 1872, the liability of a guarantor…
IBC | Statutory authority cannot raise new claim against debtor company after approval of resolution plan: Bombay High Court
The Bombay High Court has ruled that no statutory authority, including income tax authorities, can…
Delaware court rules dismissal eliminates non-debtor’s exclusive right to provide services to debtor
Nine Point Energy Holdings, Inc. and its affiliates (collectively, “Nine Point” or “Nine Point Debtors”)…
Interaction between the IBC and the Admiralty
In a landmark judgment, the Bombay High Court ruled that a shipping company that goes…
Debtor’s request for rejection c. Chapter 13 Creditor’s Conversion Motion — The 9th Circuit Decision in In Re Nichols
On September 1, 2021, the Ninth Circuit issued its decision in the case of In…
Application of the insolvency code to the electricity distribution sector
Recently, the Union Energy Ministry claimed that state-owned electricity distribution companies (discoms) fall under the…
Bombay HC cancels the SNA to the debtor company, to submit a report for the evaluation year preceding the approval of the resolution plan under the IBC
Through Mariya Paliwala – December 28, 2021 11:27 a.m. The Bombay High Court rescinded the…
The ambiguity over the jurisdiction of NCLT and DRT under IBC – Insolvency / Bankruptcy / Restructuring
To print this article, simply register or connect to Mondaq.com. The problem of non-performing assets…
Government seeks comments on proposed changes to insolvency law
The government on Thursday invited comments on various proposed amendments to the insolvency law, including…
Power under PMLA to seize assets ceases once liquidation under IBC begins: Delhi HC
The power to seize assets under the Money Laundering Prevention Act will end once the…
UB Engineering’s tax issue and liquidation procedure in the event of a pandemic
Four years after a court ordered the liquidation of Vijay Mallya’s UB Engineering company, its…
PMLA Authority Jurisdiction Ceases Against Debtor Company Properties Once Liquidation Is Approved: Delhi High Court
Through Mariya Paliwala – December 20, 2021 11:54 a.m. The Delhi High Court has ruled…
Applicability of Insolvency Laws to Personal Guarantors
INTRODUCTION Apex Court on May 21, 2021 at Lalit Kumar Jain V. Union of India…
Limitation of the powers of the National Company Law Court – Insolvency and Bankruptcy Code, 2016
introduction National Tribunal for Company Law (“NCLT”) was introduced in the Companies Act 1956 in…
Srei creditors can initiate joint insolvency proceedings
A consolidated insolvency proceeding or group insolvency, if accepted by the NCLT, may generate more…
The personal assets of guarantors cannot be transferred during the CIRP of a debtor company without initiating a separate procedure – NCLAT – Finance and Banking
India: Personal property of guarantors cannot be transferred during the CIRP of a debtor company…
NCLT admits RBI’s plea in insolvency proceedings against Reliance Capital
The National Company Law Tribunal (NCLT) on Monday admitted the Reserve Bank’s plea to initiate…
Start of insolvency proceedings against Reliance Capital; RBI file application – ThePrint
Text size: A- A + New Delhi [India], Dec. 3 (ANI): On Thursday, the Reserve…
RBI Opens Insolvency Proceedings Against Reliance Cap at NCLT, Mumbai
The Reserve Bank of India on Thursday filed an application to initiate insolvency proceedings against…
When Zero Hour Strikes: The Insolvency and Bankruptcy Code as an Exit Mechanism – Insolvency / Bankruptcy / Restructuring
The Insolvency and Bankruptcy Code of 2016 (“Codeâ€) brought about a magnanimous change in the…
Alpha Latam Management, LLC and its debtor subsidiaries receive US Bankruptcy Court approval for sale of Colombian assets to CFG Partners Colombia SAS
MIAMI, November 19, 2021 / PRNewswire / – Alpha Latam Management, LLC and certain of…
Creditors Committee Says Maximizing Debtor’s Asset Value Is Supreme
The commercial wisdom of the Creditors Committee under the Insolvency and Bankruptcy Code enjoys full…
Certificate of no objection from the IT department not required for voluntary liquidation: IBBI
Insolvency regulator IBBI has clarified that an Insolvency Professional (IP) managing the voluntary liquidation process…
The insolvency practitioner does not need to request the CNP from the tax service during the voluntary liquidation process: IBBI
The IBBI said an insolvency practitioner responsible for the voluntary liquidation process does not have…
Can I hold a debtor’s bank account hostage? – Insolvency / Bankruptcy / Restructuring
United States: Can I hold a debtor’s bank account hostage? November 12, 2021 Ward and…
Can I hold a debtor’s bank account hostage? | Ward and Smith, Pennsylvania
For creditors dealing with debtors in the shadow of bankruptcy, a common scenario repeats itself.…
New Bill Would End “Two Stages of Texas” and Eliminate Chapter 11 Non-Debtors Discharges | Dechert srl
Strong points The Nondebtor Release Prohibition Act was submitted to the House for a full…
Can I hold a debtor’s bank account hostage?
November 10, 2021 For creditors dealing with debtors in the shadow of bankruptcy, a common…
Possession of a Debtor’s Property After a Bankruptcy Declaration May or Not … Be a Stay Breach | Nelson Mullins Riley & Scarborough LLP
A person in possession of a debtor’s property while filing for bankruptcy now has more…
Sixth Circuit Upholds Chapter 13 Debtor’s Right to Request and Obtain Dismissal of Bankruptcy Case | Favor Swift Collins & Smith
A law must be interpreted and applied as it is written, regardless, according to the…
Who Benefits from the Increase in Home Value in a Chapter 13 – Debtor or Estate?
In a Chapter 13 case, which typically lasts 3 to 5 years while a debtor…
Sixth Circuit Confirms Chapter 13 Debtor’s Right to Request and Obtain Dismissal of Bankruptcy Case
A law must be interpreted and applied as it is written, regardless, according to the…
Note on changes to the CIRP and the liquidation process
The Insolvency and Bankruptcy Board of India (IBBI) published working papers soliciting comments on issues…
Liquidation work in progress for the companies Vijay Mallya, Nirav Modi
Even though insolvency proceedings against liquor baron Vijay Mallya and diamond dealer Nirav Modi continue…
Legalpay funds Bengaluru-based hospital as part of corporate insolvency process
The main objective of granting interim financing is to keep companies in insolvency under the…
Can a medical consultant be discriminated against against a doctor employed in the insolvency process of a hospital? SC to examine
The Supreme Court has issued an opinion on a petition that raises the question of…
Teligent: Company arranges $ 12 million debtor-in-owner financing from its senior secured lenders and access to its cash collateral on a consensus basis – Form 8-K
Company arranges $ 12 million debtor-in-owner financing from its senior secured lenders and access to…
NCLT admits insolvency pleas against 2 companies of the Srei group and appoints a director
The NCLT on Friday admitted insolvency claims brought by banking regulator RBI against two companies…
Center to cut the wings of banks amid alert on deep haircuts in insolvency
The Ministry of Commercial Affairs (MCA) will soon begin consultations with the Reserve Bank of…
Bank of Maharashtra raises issue of breach of confidentiality in Videocon insolvency process
New Delhi: Bank of Maharashtra, a dissatisfied creditor of the Videocon group, on Friday raised…
Videocon insolvency proceedings: BoM raises the issue of breach of confidentiality
Bank of Maharashtra, a dissatisfied creditor of the Videocon group, on Friday raised the issue…
Bankruptcy Debtor Trumps SBA in Arizona District PPP Loan Dispute – Insolvency / Bankruptcy / Restructuring
The Paycheck Protection Program (“PPPâ€) was a forgivable loan program administered by the US Small…
Bankruptcy Debtor Trumps SBA in Arizona District P3 Loan Dispute | Snell & Wilmer
The Paycheck Protection Program (“PPPâ€) was a forgivable loan program administered by the US Small…
Bankrupt Debtor Trumps SBA in Arizona District PPP Loan Dispute
The Paycheck Protection Program (“PPPâ€) was a forgivable loan program administered by the US Small…
Debtors behaving badly: non-payment of the debt on the basis of the “bad acts” of the debtor – Insolvency / Bankruptcy / Restructuring
United States: Debtors behaving badly: non-payment of the debt on the basis of the “bad…
Debtors behaving badly: non-payment of the debt on the basis of the “bad acts” of the debtor
It is said that the word bankruptcy originated in the Middle Ages from the term…
For PAL reinvention, not liquidation
Congratulations to Justice Japar B. Dimaampao, 57, for his long delayed but well deserved promotion…
The moratorium under the IBC only applies to debtor companies and not to promoters: SC
The Supreme Court ruled that the moratorium under the provisions of the Insolvency and Bankruptcy…
Welcome to IANS Live – TopStory
Photo credit: IANS IANSLive New Delhi, Sept. 16 (IANS) The Supreme Court ruled on Thursday…
Object of the IBC to revive the debtor company, final liquidation: SC
The Supreme Court said on Wednesday that the main purpose of the Insolvency and Bankruptcy…
Court of Appeal Maintains FCC Penalty Claim Survives Chapter 11 Debtor Company Relief
A corporate financial penalty obligation of a Chapter 11 debtor owed to the Federal Communications…
Lenders vote to liquidate Lanco Mandakini Hydropower
Lenders voted to liquidate Lanco Mandakini Hydro Power on the grounds that an offer from…
Liquidation as “going concern” gains ground
The liquidation of the business as a “going concern”, instead of liquidating it and selling…
IBC: 47 pc of cases closed in liquidation until June; many cos saw the erosion of ecological value before the insolvency process, says IBBI
Almost 47%, or 1,349 cases closed under the insolvency law were put into liquidation until…
Siva Industries promoter appeals liquidation
Series C entrepreneur Sivasankaran, promoter of Siva Industries, filed an appeal with the National Company…
A warning to contractual counterparties: a debtor can sell your fully executed contract without remedying the defaults and pay your debt in full | Pillsbury Winthrop Shaw Pittman LLP
Background In 2011, a producer and a subsidiary of the Weinstein Company entered into a…
Can your lien be avoided if only the debtor benefits? Courts Divided – Insolvency / Bankruptcy / Restructuring
United States: Can your lien be avoided if only the debtor benefits? Courts are divided…
Lenders are free to invoke the personal guarantees of a debtor company under the Insolvency and Bankruptcy Code, 2016 – Insolvency / Bankruptcy / Restructuring
India: Lenders are free to invoke the personal guarantees of a debtor company under the…
Prosecution of criminal charges against a debtor may violate the stay and automatic release order
In a recently released ruling, the United States Bankruptcy Court for the Eastern District of…
Will the claim of the awardee be extinguished upon approval of the award debtor’s resolution plan under the IBC? Yes, rule the High Court of Calcutta
The Calcutta High Court on Friday settled an important arbitration law issue, to know, whether…
Cross-border restructuring and discharge of non-debtor guarantors: update of chapter 15
Third party releases, especially releases from affiliated non-debtor guarantors, are generally a key feature of…
Mitigate the releases of non-debtors? Purdue Pharma and Bill SACKLER – Insolvency / Bankruptcy / Restructuring
To print this article, simply register or connect to Mondaq.com. On Friday, March 19, 2021,…
The expanding contours of releases authorized by non-debtors in the Ninth Circuit | Mintz – Views on Bankruptcy and Restructuring
Until recently, Ninth Circuit courts have generally followed the minority view that discharges by a…
Court Dismisses Bankruptcy Case To Allow Debtor To Apply For Paycheck Protection Loan Patterson Belknap Webb & Tyler LLP
It is well known in the restructuring world that a bankrupt debtor cannot get a…
Pre-pack system for insolvency banks on fair debtor-creditors links
The prepackaged program, billed as the next step in the evolution of the Insolvency and…
Collusive business dealings with debtor company will not constitute “financial debt” according to IBC: Supreme Court
The Supreme Court ruled that collusive or simulated transactions with a debtor company will not…
IBC Redefines Debtor-Creditor Relationship, Economic Study Finds
Introducing significant behavioral changes, the insolvency law redefined the debtor-creditor relationship, with more than 80%…
Bankruptcy Court Rejects State Law-Based Arguments Of Retail Debtor To Avoid Paying Rent During Chapter 11 Pillsbury Winthrop Shaw Pittman LLP
This alert focuses on CEC debtor’s non-bankruptcy theories that the COVID-19 pandemic and government responses:…
Supreme Court upholds changes to IBC to sue debtor companies
In an important verdict, the Supreme Court on Tuesday upheld changes made by Parliament to…
Supreme Court Finds Mere Withholding of Bankrupt Debtor’s Assets Not a Violation of Automatic Stay, But Other Questions Remain | Bradley Arant Boult Cummings LLP
In recent years, federal circuit courts have grappled with whether a creditor retaining possession of…
Chicago v. Fulton Bankruptcy Code and Debtor’s Property Retention
Related practices and jurisdictions Thursday, January 14, 2021 On January 14, 2021, the United States…
Automatic stay blocks interference with debtors’ business relationships
Automatic stay is arguably the most important protection that the Bankruptcy Code offers to a…
Does my business qualify as a small business debtor? | Jennings, Strouss & Salmon, PLC
The new subchapter V of chapter 11 of the Bankruptcy Code (subchapter V) was enacted…
subchapter V and the single asset real estate debtor in a COVID-19 world | Spilman Thomas & Battle, SARL
Over a year ago, Congress amended the Bankruptcy Code to create Subchapter V, with the…
Can counterclaims filed against the debtor company be stayed in accordance with the provisions of the IBC during the moratorium
Whether a counterclaim filed against a debtor company is likely to be stayed during the…
In Chapter 11 Bankruptcy, the debtor can assume or reject the lease
Suppose you own farmland or commercial space and you rent out your property. What happens…
Substantial Nondebtor Consolidation: Do Recent Cases Indicate a Judicial Preference for Claims Under State Law? | Mintz – Views on Bankruptcy and Restructuring
It is not uncommon for a creditor of a debtor to cry foul that a…
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Definition of debtor in possession (DIP)
What is a Debtor in Possession (DIP)? A Debtor in Possession (DIP) is a person…
The insolvent debtor – Are charitable and family donations still possible?
There are two questions estate planners often ask when they have a client in financial…