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Priority Of Dues Under SARFAESI: Bombay High Court Reiterates

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
IBC and Limitation: The Dust Settles

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
There is a first time for everything - US bankruptcy plan for Australian debtor

Need to know

In a first for the US and Australian markets, the Buccaneer Energy group of companies successfully had bankruptcy plans approved by the US Bankruptcy Court for both US and Australian incorporated debtor companies. 

Australia, USA, Insolvency & Restructuring, Litigation, Baker McKenzie, Bankruptcy, Debtor
ABI publishes its review of US Chapter 11 bankruptcy

"Once in a generation" review

Shortly before the Christmas break, the much anticipated review of the United States "Chapter 11 bankruptcy" regime was published by the American Bankruptcy Institute (ABI). This is one of very few such major "root and branch" reviews of Chapter 11 since its enactment in 1978, and the first since the 1990s.

Australia, USA, Insolvency & Restructuring, Baker McKenzie, Bankruptcy