In the context of the Insolvency and Bankruptcy Code (IBC), the Supreme Court has held that a ‘pre-existing dispute’ capable of barring the initiation of a Corporate Insolvency Resolution Process under Section 9 must be real, genuine, and supported by substantive evidence, and not a moonshine defence raised merely to obstruct CIRP. A bench of Justice Sanjay Kumar and Justice Alok Aradhe heard…

The National Company Law Appellate Tribunal on Friday issued notice on SEBI’s appeal challenging an NCLT Mumbai order that refused to recall or clarify a paragraph in the Reliance Capital resolution plan which, according to SEBI, is being misused to claim that all liabilities of the company’s subsidiaries also stand extinguished. SEBI says this interpretation is being deployed by a…

Brittany Higgins has officially been declared bankrupt following her defamation loss to her former boss, ex-Liberal senator Linda Reynolds, with the Federal Court ruling Higgins’ finances should be taken over so Reynolds can recover the money she is owed.

The orders mark a significant milestone in the long-running legal dispute between Reynolds and her former staffer after Higgins’ alleged rape at Parliament House by her colleague Bruce Lehrmann in March 2019.

In orders published on Friday morning, Federal Court Justice Michael Feutrill placed the former Liberal staffer’s estate in bankruptcy, backdated to October 8. He fixed Reynolds’ legal costs at…