View: IFSC can act as a stepping stone for insolvency reforms – Economic Times

International Finance Service Centre (IFSC) at Gujarat International Finance Tec (Gift) City, a Special Economic Zone (SEZ), was conceptualised to create an offshore jurisdiction in India. The plan was to capture some of the business that was being carried out in Singapore, Mauritius, Dubai, Hongkong, London and similar centres of global finance. A host of…

Moratorium under IBC applies only to corporate debtor not to promoters: SC – Business Standard

The Supreme Court has held that moratorium under provisions of IBC which restrains initiation of any fresh proceedings applies only to the Corporate Debtor but does not protect the promoters TopicsSupreme Court|IBC|Corporate growth The Supreme Court has held that moratorium under provisions of Insolvency and Bankruptcy Code (IBC) which restrains initiation of any fresh proceedings…

The Corporate Insolvency and Governance Act 2020 (Coronavirus) (Amendment of Schedule 11) Regulations (Northern Ireland) 2021 – Department for the Economy

Date published: 16 September 2021 Equality screening in regard toThe Corporate Insolvency and Governance Act 2020 (Coronavirus) (Amendment of Schedule 11) Regulations (Northern Ireland) 2021. Read the full article at: https://www.economy-ni.gov.uk/publications/corporate-insolvency-and-governance-act-2020-coronavirus-amendment-schedule-11-regulations-northern

COVID-19: UK Government Announces End of Temporary Restrictions on Certain Insolvency Proceedings – JD Supra

The UK government has announced that temporary restrictions on creditor action introduced in the Corporate Insolvency and Governance Act 2020 are to be phased out. These temporary restrictions were put in place to protect businesses in financial distress, as a result of the coronavirus (COVID-19) pandemic, from being forced into insolvency. The current restrictions on…

Object of IBC to revive corporate debtor, liquidation last resort: SC – Outlook India

Outlook September 15, 2021 21:59 IST Object of IBC to revive corporate debtor, liquidation last resort: SC outlookindia.com 1970-01-01T05:30:00+0530 New Delhi, Sep 15 (PTI) The Supreme Court on Wednesday said that principal object of the Insolvency and Bankruptcy Code (IBC) is revival of corporate debtor and to make it a going concern and every attempt…

Liquidation as a going concern is an effort to maximise value & save firms under insolvency | INTERVIEW – The Financial Express

Nitin Jain is the official liquidator for PSL Group — recently liquidated as a going concern. In an effort to maximise the value of a company undergoing insolvency proceedings, the bankruptcy court has allowed for liquidation of the company as a going concern. This amendment tries to stitch all the assets of the company as…

NCLT can’t allow tweaks in a successful resolution plan: SC – The Hindu

The Supreme Court on Monday held that the National Company Law Tribunal (NCLT) cannot permit withdrawals or modifications of a successful resolution plan, once it has been submitted to it after due compliance with the procedural requirements and timelines, solely at the behest of the resolution applicant. This would only create another tier of negotiations…

Raising Concern over Delays in Corporate Insolvency Resolution Processes , the … – Latest Tweet by IANS – LatestLY

Raising concern over delays in corporate insolvency resolution processes (CIRP), the #SupremeCourt on Monday asked the National Company Law Tribunal and the National Company Law Appellate Tribunal to strictly adhere to the mandated 330-day timeline. pic.twitter.com/yMMSonvO4G IANS Tweets (@ians_india) September 13, 2021 (SocialLY brings you all the latest breaking news, viral trends and information from…