How a proposed change in Special Situations Fund norms could end roundtripping through AIFs – Moneycontrol

Experts, however, point out that the norms need to be detailed a little more to ensure innocent promoters with no malafide intent are not affected Certain amendments suggested are targeted specifically to eliminate conflict of interest, according to legal experts. The regulations proposed for Special Situations Funds (SSF) may finally stop promoters from round tripping…

Interpreting the UNCITRAL Model Law on Cross-Border Insolvency … – JD Supra

Creditors involved in cross-border restructuring or insolvency proceedings of corporate groups will find that the approach of the Singapore courts to questions of cross-border insolvency provides the assurance of an orderly restructuring or liquidation that is consistent across the various jurisdictions involved. This note considers the recent Singapore cases that demonstrate this approach and highlights…

Inquesta bolsters its team as corporate insolvencies increase – Business Up North

Peter Connor, the latest recruit at insolvency and corporate recovery practice Inquesta Insolvency and corporate recovery practice Inquesta has strengthened its team with the appointment of Peter Connor, who has over 25 years experience in the field. Peter has joined Inquesta as a business development manager. He has previously worked in similar roles at firms…

Union Bank gets relief as NCLT asks Bharati Defence liquidator to admit Rs208 cr claim | Mint – Mint

MUMBAI : The Mumbai bench of the National Company Law Tribunal (NCLT) has directed the liquidator of insolvent firm Bharati Defence and Infrastructure Ltd to admit Union Bank of Indias claim amounting to Rs208 crore as an operational debt. The liquidator had rejected the state-owned banks claim in February 2019 saying it did not qualify…

Failure of Liquidator To Comply With Regulation 45 Of Liquidation Regulations, NCLT Kolkata Rejects… – Live Law – Indian Legal News

The National Company Law Tribunal (NCLT), Kolkata Bench, comprising of Ms. Bidisha Banerjee (Judicial Member) and Shri Balraj Joshi (Technical Member), has rejected an application for dissolution of Corporate Debtor since the Liquidator failed to comply with requirements under Regulation 45 of IBBI (Liquidation Process) Regulations 2016. The Bench has further recommended IBBI to conduct…

IBC | For Rejection Of A Resolution Plan Under Section 31(2), NCLT Must Pass A Reasoned Order: Supreme… – Live Law – Indian Legal News

The Supreme Court has held that when the National Company Law Tribunal (NCLT) exercises its power under Section 31(2) of the Insolvency and Bankruptcy Code, 2016 to not approve a resolution plan, then a reasoned order must be passed. It was emphasized that recording of cogent reasons while passing an order is the duty of…