Background
India, Corporate Finance/M&A, Insolvency & Restructuring, Khaitan & Co, Reserve Bank of India, Ministry of Corporate Affairs, Insurance Regulatory and Development Authority of India, Bank of India, National Company Law Tribunal
The Chennai Bench of the National Company Law Tribunal (NCLT) has recently approved the merger of a Limited Liability Partnership (LLP) with a private limited company (Scheme). This newsflash analyses key aspects of the NCLT order permitting the aforesaid merger. Background |
India, Company & Commercial, Insolvency & Restructuring, Litigation, Khaitan & Co, Companies Act 2013 (India)
Background
India, Company & Commercial, Corporate Finance/M&A, Insolvency & Restructuring, Litigation, Khaitan & Co, Liquidation, Ministry of Corporate Affairs
In a recent decision by the influential Third Circuit Court of Appeals, In re KB Toys Inc., 2013 U.S. App. LEXIS 23083 at *17 (3d Cir. Nov. 15, 2013), the Court decided that “the cloud on the claim” stemming from a preferential payment made to the original claimant continues with the claim, which then could be disallowed.