Fulltext Search
IBBI’S Proposal for a more Efficient Resolution of Real Estate Insolvencies

BACKGROUND

India, Company & Commercial, Insolvency & Restructuring, Litigation, Real Estate, Khaitan & Co, Insolvency, Insolvency and Bankruptcy Board of India
ERGO Analysing Developments Impacting Business: IBBI’s Clarification Empowers the Role of Authorized Representative

Background

The Insolvency and Bankruptcy Board of India (IBBI) has on 24 September 2024 published the IBBI (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2024 (Amendment Regulations) with the primary aim to streamline and reduce the delays faced in insolvencies containing class of creditors. 

Amendments Introduced

India, Insolvency & Restructuring, Khaitan & Co, Insolvency, Insolvency and Bankruptcy Board of India
Hong Kong Court of First Instance follows the Guy Lam approach notwithstanding the recent English Privy Council's decision in Sian Participation

We recently blogged (here) about the Privy Council decision of Sian Participation Corporation (In Liquidation) v Halimeda InternationalLtd [2024] UKPC 16 (

Hong Kong, Arbitration & ADR, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP, Liquidation
Introduction of Guidelines for the Committee of Creditors - A Step in the Right Direction

BACKGROUND

India, Insolvency & Restructuring, Litigation, Khaitan & Co, Insolvency, Insolvency and Bankruptcy Board of India
ERGO Analysing Developments Impacting Business: IBBI Proposes for Streamlining of Resolution Process

BACKGROUND

Since its inception the Insolvency and Bankruptcy Code, 2016 (Code) has been an evolving legislation with regular updation(s) being brought about in the form of rules and regulations with a view of streamlining the corporate insolvency resolution process (CIRP).

India, Insolvency & Restructuring, Litigation, Khaitan & Co, Insolvency, Insolvency and Bankruptcy Board of India, Insolvency and Bankruptcy Code (India)
Navigating the crossroads between arbitration and insolvency proceedings: the Hong Kong Court of Appeal applies Guy Lam principles in a winding up case involving an arbitration clause

Can a creditor obtain a winding up order against a debtor company if the underlying dispute over the debt is subject to an arbitration agreement between the parties?

Hong Kong, Arbitration & ADR, Insolvency & Restructuring, Herbert Smith Freehills LLP
ERGO Analysing Developments Impacting Business: IBBI Lifts Restrictions for Insolvency Professionals of Personal Guarantors

Introduction

India, Insolvency & Restructuring, Khaitan & Co, Insolvency, Insolvency and Bankruptcy Board of India, Insolvency and Bankruptcy Code (India)
What is the effect of Guy Lam on winding up petitions involving an arbitration clause? A third voice

Where a winding up petition is based on a debt arising from a contract with a non-Hong Kong exclusive jurisdiction clause, the court will tend to dismiss or stay the winding up petition in favour of the parties’ agreed forum unless there are strong countervailing factors.

Hong Kong, Arbitration & ADR, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP
When informal workouts don’t work out: English High Court rules bank that lent support to restructuring did not dishonestly assist in putting assets beyond creditors’ reach

In the current economic climate, more and more companies are getting into financial difficulties, informal workouts by debtor companies, with support from certain creditors, seem to be increasingly common.

United Kingdom, Banking, Insolvency & Restructuring, Litigation, Herbert Smith Freehills LLP
ERGO Analysing Development Impacting Business: IBBI Amends the CIRP Regulations to Streamline the Insolvency Process

Introduction

The Insolvency and Bankruptcy Board of India (IBBI) on 18 September 2023 notified the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2023 (CIRP Amendment Regulations) amending the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (CIRP Regulations).

The key changes brought about by the CIRP Amendment Regulations are as follows:

India, Insolvency & Restructuring, Litigation, Khaitan & Co, Insolvency and Bankruptcy Board of India, Insolvency and Bankruptcy Code (India)