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Fourth Amendment to IBBI CIRP Regulations, 2016: Saving time, Increasing Transparency and Facilitating Resolution

Background

India, Insolvency & Restructuring, Khaitan & Co, Due diligence, Fourth Amendment, Insolvency, Insolvency and Bankruptcy Board of India, Insolvency and Bankruptcy Code (India), Industrial conglomerates
Enhanced focus on disclosure of tax losses in the Information Memorandum (IM)

Introduction

India, Insolvency & Restructuring, Khaitan & Co, Insolvency, Insolvency and Bankruptcy Board of India, National Company Law Tribunal
Supreme Court clarifies the scope and ambit of Interim Moratorium in Personal Insolvency Proceedings

Introduction

India, Insolvency & Restructuring, Litigation, Khaitan & Co, State Bank of India, Negotiable Instruments Act 1881 (India), Insolvency and Bankruptcy Code (India), Financial services banks, Financial services corporate
Exploring the Role of Sectoral Regulators Vis-à-Vis IBC

1 EXPLORING THE ROLE OF SECTORAL REGULATORS VIS-À-VIS IBC The Insolvency and Bankruptcy Code, 2016 (“IBC” / “Code”) has emerged as the poster child of an ideal model law empowering the restructuring and resolution of financially distressed firms in a fair, timely and balanced manner by maximising recoveries to the debtors claimants.1 The corporate insolvency resolution process (“CIRP”) under the Code essentially functions in a manner as per which a resolution plan is proposed for all stakeholders of the debtor, ideally within an outer timeline of 330 days.2 The creditors and stakeholders ar

India, Insolvency & Restructuring, Litigation, Khaitan & Co, FERC, Securities and Exchange Board of India, Insolvency and Bankruptcy Board of India, Insolvency and Bankruptcy Code (India)
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
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
Collective Redundancies on Insolvency: Irish Employee Rights Bolstered

The Employment (Collective Redundancies and Miscellaneous Provisions) and Companies (Amendment) Act 2023 (Collective Redundancies AmendmentAct) came into operation on 1 July 2024.

Ireland, Employment & Labor, Insolvency & Restructuring, William Fry, Insolvency
Additional Rights to Information for Employees of Insolvent Companies

The Employment (Collective Redundancies and Miscellaneous Provisions) and Companies (Amendment) Act 2023 (Act) came into effect on 1 July 2024.

Ireland, Employment & Labor, Insolvency & Restructuring, Litigation, William Fry, Insolvency
Application was Indirect Attempt to Enforce Foreign Revenue Debt

Redefine Australian Investments Limited (Company), an Irish-registered company was placed in voluntary liquidation on 24 January 2018. Martin Ferris was appointed as the liquidator (Liquidator).

The Proceedings

Ireland, Banking, Insolvency & Restructuring, Litigation, William Fry