MARTIN DE RUYTER/Stuff Challenge Marine employees were surprised by the liquidators letter, but the signs of trouble were there, an employee said. Employees of a marine company have been left without income or tools after the business went into liquidation at level 4 owing more than $3.8 million. Around a dozen employees worked at Challenge…
Stationery company kikki.K has gone into voluntary administration for the second time in 17 months. Kikki.K co-founders Kristina Karlsson and Paul Lacy have written to staff to tell them the difficult news, The Australian Financial Review reports. “Today is a sad day. Writing this note together is a sad task and we still can’t quite…
The Insolvency and Bankruptcy Code (IBC) was enacted to ensure a cultural transformation in the insolvency and bankruptcy landscape. It established a new architecture for insolvency resolution and liquidation. Strict timelines were introduced and a code for judicial restraint was built into the law at every step of the process. It also established the Insolvency…
In its annual list of Asias Top Offshore Litigators, ALB highlights top disputes practitioners working with offshore law firms, who have successfully handled significant cases and exceeded client expectations in the process. The full list is in alphabetical order, and a few lawyers have been profiled here. JOANNE COLLETTWalkers STUART DADDONAWalkers AISLING DWYERMaples Group ROBERT…
Mumbai, Aug 30: Aashit Shah, Partner, J Sagar Associates, has said that infrastructure regulators and Securities and Exchange Board of India (SEBI) would need to work in tandem for a successful insolvency resolution of an INvit which may involve a change in the sponsor, investment manager or trustee or transfer of an infrastructure asset. In…
In a bid to increase transparency in the liquidation process under the Insolvency and Bankruptcy Code (IBC), IBBI has proposed amendments to the regulations TopicsIBBI|IBC|liquidation IANS | New Delhi Last Updated at August 30, 2021 13:30 IST In a bid to increase transperancy in the liquidation process under the Insolvency and Bankruptcy Code (IBC), IBBI…
Mumbai, Aug 30 (UNI) Aashit Shah, Partner, J Sagar Associates, has said that infrastructure regulators and Securities and Exchange Board of India (SEBI) would need to work in tandem for a successful insolvency resolution of an INvit which may involve a change in the sponsor, investment manager or trustee or transfer of an infrastructure asset.…
MUMBAI: The Insolvency and Bankruptcy Board of India (IBBI) has proposed major changes in the insolvency process to bring more discipline and transparency and to address issues that have come up in recent cases.The IBBI, which regulates both insolvency professionals and the process, has sought public views on amendments by September 17.A key development is…
Insolvency regulator IBBI has come up with a discussion paper on Code of Conduct for the Committee of Creditors (CoC), which is the custodian of public trust during resolution process. The proposed Code of Conduct, which establishes broad principles that can be applied to every situation, is expected to elevate accountability and responsibility of Committee…
It also suggested that a professional code of conduct for the CoC be put in place, which would define and circumscribe their decisions, as these have larger implications for the efficacy of the Code. The erosion of value of stressed firms before the initiation of the corporate insolvency resolution process (CIRP) is a matter of…