Lenders to insolvent SBQ Steels prefer to take the liquidation route – Business Standard

Lenders to insolvent SBQ Steels have preferred to take the liquidation route for the entity, expressing reservations over UK-based Liberty Houses capability to take the process ahead, sources close to the development said. The resolution professional (RP) has filed an application under Section-33 of the Code of Liquidation, before the Chennai Bench of…

Liquidation under insolvency and bankruptcy code a long and tedious journey – Livemint

Challenges of a liquidator include wading through complicated land ownership patterns of the corporate debtor. Photo: Bloomberg When Santanu T. Ray, a resolution professional, learnt that Conros Steel Pvt. Ltd will have to be liquidated, the first thing he did was to approach the committee of creditors (CoC) and requested all lenders to relinquish control…

In a resolution plan under IBC, personal guarantors cant step into creditors shoes – BusinessLine

The National Company Law Appellate Tribunal (NCLAT) has ruled that a personal guarantors right to subrogation against a corporate debtor can be taken away in a resolution plan under the Insolvency and Bankruptcy Code (IBC). Simply put, a personal guarantor has no right to step into the shoes of a creditor against the corporate debtor…

GARIA urges Government to pass corporate insolvency law – BusinessGhana

Ghana Association of Restructuring and Insolvency Advisors (GARIA), an Association of Professionals established to play a leadership role in corporate restructuring, has urged the government to expedite the process in passing the corporate insolvency bill into law. The Bill will ensure a significant impact in the business environment, provide a framework for restructuring viable businesses,…

GARIA urges Government to pass corporate insolvency law – BusinessGhana

Ghana Association of Restructuring and Insolvency Advisors (GARIA), an Association of Professionals established to play a leadership role in corporate restructuring, has urged the government to expedite the process in passing the corporate insolvency bill into law. The Bill will ensure a significant impact in the business environment, provide a framework for restructuring viable businesses,…