India’s insolvency reform aims for speedy resolutions. Is it also good for value recovery?

Unlike the IBC’s usual corporate insolvency resolution process (CIRP), the CLRP is a proposed option under which the corporate debtor keeps management control while creditors work towards a time-bound resolution (150 days extendable by 45 days) under limited court oversight, which is helpful given today’s adjudicatory level delays. The bill also aligns with the World…

Meeting lifts lid on downfall

The creditors’ position would continue to “play out” through the administration process, Gammel said. “Were still hopeful of getting a sale away and parties are working very hard to do that,” he said. “The guys [at 1800 Lasagne] are still continuing to trade because they really believe in the business and want to keep it…

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