In a significant order passed on June 28, 2023, in the case of Ronak Industries vs.
India, Banking, Insolvency & Restructuring, Litigation, Cyril Amarchand Mangaldas, Recovery of Debts and Bankruptcy Act 1993 (India), Insolvency and Bankruptcy Code (India), Bombay High Court, Supreme Court of India
In brief
With the courts about to consider a significant and long standing controversy in the law of unfair preferences, suppliers to financially distressed companies, and liquidators, should be aware that there have been recent significant shifts in the law about getting paid in hard times.
Australia, Insolvency & Restructuring, Litigation, Baker McKenzie, Coronavirus, Corporations Act 2001 (Australia)
The Supreme Court in the case of Laxmi Pat Surana vs Union Bank of India & Anr. [Civil Appeal No. 2734 of 2020] (“Laxmi Pat”) has settled the issue of the applicability of Section 18 of the Limitation Act, 1963 (“LimitationAct”) to applications for initiation of insolvency proceedings under the Insolvency and Bankruptcy Code, 2016 (“IBC”).
India, Insolvency & Restructuring, Litigation, Cyril Amarchand Mangaldas, Supreme Court of the United States