Lawyers positive on insolvency law shake-up – The Australian Financial Review

Sweeping reforms to insolvency laws and regulations are set to benefit distressed companies that are attempting to negotiate a sale and avert going into administration.  Local lawyers are of the view that draft regulations released this week by Minister for Revenue and Financial Services Kelly O’Dwyer are largely positive for lenders, struggling companies and the restructuring industry.  “These…

Lanco Infratech, ABG Shipyard & Alok Industries may face liquidation – Economic Times

NEW DELHI: Top officials at leading banks fear that the insolvency resolution process at three companies with dues of about Rs 1 lakh crore is likely to fail, leading inevitably to liquidation. Lenders are unwilling to accept offers for Lanco Infratech, ABG Shipyard and Alok Industries that involve substantial haircuts over concerns that such deals…