Mondaq Asia Pacific: Insolvency/Bankruptcy/Re-structuring
Stacks Law Firm
Lessors should register their interests on the Personal Property Securities Register to avoid losing title to those goods.
Under reforms commencing in July 2018, Australia will have new insolvency laws which will limit the exercise of contract rights to terminate for insolvency.
Failing to correctly issue a Statutory Demand can prove an expensive and counter-productive result for the issuing party.
Worrells Solvency & Forensic Accountants
Total bankruptcies fell while popular bankruptcy alternatives, debt agreements and personal insolvency agreements, rose.
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.
Khurana and Khurana
The Inception of Insolvency and Bankruptcy code [IB Code] was envisaged as a historical moment in the Indian corporate sector as it is a single uniform comprehensive legislation that aims...
LexCounsel Law Offices
The aforesaid decision follows from the appeal filed by the SBI the financial creditor, against the order of the NCLT Chennai restraining them from proceeding against the property of a personal guarantor of the...
S.S. Rana & Co. Advocates
The resolution professional shall within seven days of his appointment, appoint one registered valuer to determine the fair value and the liquidation value of the corporate debtor.
The issue of simultaneous liability recently arose before the NCLT, Delhi Bench under the Insolvency and Bankruptcy Code, 2016
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 ...
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...
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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.
Worrells Solvency & Forensic Accountants
This article examines challenges to the entitlement of creditors in bankrupt estates to vote at meetings of creditors.
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.
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.
Worrells Solvency & Forensic Accountants
A company director who receives a statutory demand for payment from a creditor must act appropriately within 21 days.
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.
Worrells Solvency & Forensic Accountants
AFSA has recently released annual statistics, trends and also data about personal insolvency causes for the 2016-17 year.
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