Adjudicating Authority Can’t Override CoC’s Majority Decision On Extension Of CIRP Period At Instance Of Minority Dissenting Creditor: NCLAT

Liquidation

The National Company Law Appellate Tribunal (NCLAT) New Delhi bench comprising Justice Ashok Bhushan (Chairperson), Barun Mitra (Technical Member) and Arun Baroka (Technical Member) have re-iterated that that liquidation of the Corporate Debtor should be the last resort. The Tribunal observed that when 95.01% of the CoC members, after considering all aspects, passed a resolution…

Seacrest Petroleo Bermuda Board Decides On Provisional Liquidation -February 21, 2025 at 01:16 am EST

Liquidation

Seacrest Petroleo Bermuda Limited is a Bermuda-based independent oil and gas production company. The Company has an integrated portfolio of producing oil and gas fields, and export infrastructure onshore in Espirito Santo, Brazil. The Company has exclusive control over its infrastructure, from field production to an offshore tanker loading terminal, enabling operations, schedule control and…

Is our old milestone irrelevant today?

Liquidation

Insolvency & Bankruptcy Code (IBC), labelled as among the iconic watershed-moments of Indian legal history has been under intense scrutiny for some time now. Recent observations around judicial delays, higher liquidation rates (compared to resolution) and lower recoveries have cast a spotlight around this milestone. Some years ago, the IBC was hailed as the saviour…

Bankruptcy, insolvency & corporate restructuring | Deloitte | Legal Services | Solutions

Liquidation

The global financial crisis has pushed many businesses into a state of instability. When companies are struggling with difficult choices, Deloitte Legal can assist with suggesting options to help recovery, such as restructuring outside of insolvency proceedings, a structured sale or provide assistance with judicial insolvency proceedings. We work with companies in distress as well…