Inland Homes supply chain to receive payout as remaining assets liquidated and £113m debt pursued

Liquidation

After months chasing down debts and sifting through Inland Homes’ records and accounts, insolvency specialists FRP Advisory recently confirmed Inland Homes is being moved out of administration and into Creditors’ Voluntary Liquidation (CVL).   FRP Advisory also said Inland Homes is still owed £113 million from an “intercompany debtor” and, while the sum remains outstanding, they expect to recoup an amount “higher than previously anticipated”, meaning there will likely be a distribution of profits to shareholders.     “Due to the…

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Liquidation

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NCLAT Dismisses Appeal [Read Order]

Liquidation

The National Company Law Appellate Tribunal (NCLAT) has held that unregistered documents, including a Memorandum of Deposit of Title Deeds (MoDT), cannot create a valid security interest to retain title deeds of a corporate debtor‘s property during liquidation proceedings. Mr. V. Jaisankar, the appellant, filed Company Appeal challenging the order of the National Company Law…

Complete Case Digest on NCLT Rulings under the IBC

Liquidation

“IBC code” most commonly refers to India’s Insolvency and Bankruptcy Code,2016, an act that consolidates and amends laws for the time-bound resolution of insolvency for corporate bodies, firms, and individuals. The National Company Law Tribunal (NCLT) is a quasi-judicial body in India that adjudicates issues relating to Indian Companies. The National Company Law Tribunal is…