In a significant judgment dated 9 June 2020 titled ‘Indus Biotech Private Limited v.
On Wednesday 29 April the Outer House of the Court of Session in Edinburgh issued an opinion sanctioning two schemes of arrangement proposed by Premier Oil Plc and Premier Oil UK Limited (together, Premier Oil) (the Schemes). The Court addressed multiple grounds of challenge and did so without hearing live evidence, despite disputes of fact between the parties.
On 15 December 2017, the Hon’ble Supreme Court of India (Supreme Court) delivered a landmark judgment in Macquarie Bank v. Shilpi Cables, Civil Appeal 15135/2017 on whether Section 9(3)(c) of the Insolvency and Bankruptcy Code 2016 (Code) is mandatory and whether a demand notice of an unpaid operational debt can be issued by a lawyer on behalf of the operational creditor. The Supreme Court allowed the appeals of Macquarie Bank against the judgment of the National Company Law Appellate Tribunal (Appellate Tribunal) in Shilpi Cable Technologies v.
On 21 September 2017, the Hon’ble Supreme Court delivered a landmark judgment regarding the interpretation of the terms “dispute” and “existence of disputes” and the extent of the authority of the National Company Law Tribunal (Adjudicating Authority) to ascertain if a dispute exists under Section 8 and 9 of the Insolvency and Bankruptcy Code 2016 (Code). The Hon’ble Supreme Court allowed the appeal of Mobilox Innovations Private Ltd. (Mobilox) against the judgment of the National Company Law Appellate Tribunal (NCLAT) dated 24 May 2017. |