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Section 105 of the U.S. Bankruptcy Code, titled “Power of Court,” is often cited and used as a “catch-all” provision when requesting certain relief or when a bankruptcy court enters an order granting (or denying) certain relief not prescribed by a particular provision of the Bankruptcy Code. That section provides that a “court may issue any order, process, or judgment that is necessary or appropriate to carry out the provisions of this title . . .

INTRODUCTION

今回のニュースレターでは、2021 年 11 月の破産倒産法関連の主なアップデートについて取り扱ってい ます。最高裁判所(=SC)、会社法上訴審判所(=NCLAT)、会社法審判所(=NCLT)の各裁判所に おいて下された重要な判決についてまとめる共に、2016 年破産倒産法の改正についても解説しています。

1) A DEL CREDERE AGENT IS NOT AN OPERATIONAL CREDITOR UNDER THE CODE

Matter: Alturas Trading Corp. v. VRMX Concrete India Pvt. Ltd.

Order dated: 04 October 2021

Summary:

INTRODUCTION

This newsletter covers key updates about developments in the insolvency law during the month of November 2021.

The Bankruptcy Protector

Most bankruptcy practitioners are familiar with the intentionally broad scope of discovery under Bankruptcy Rule 2004. However, there are limits to this discovery and the “pending proceeding” rule can be a useful tool to limit the scope of discovery in the appropriate circumstances.

Bankruptcy Rule 2004

INTRODUCTION

今回のニュースレターでは、2021 年 10 月の破産倒産法関連の主なアップデートについて取り扱ってい ます。最高裁判所(=SC)、会社法上訴審判所(=NCLAT)、会社法審判所(=NCLT)の各裁判所に おいて下された重要な判決についてまとめる共に、2016 年破産倒産法の改正についても解説しています。

1) GOVERNMENT AMENDS THE RULES RELATING TO INSOLVENCY OF CORPORATE DEBTOR TO ENSURE TIME BOUND INSOLVENCY PROCESS.

Notification dated: 30 September 2021.

The problem of Non-performing Assets (NPAs) in the Indian banking system is one of its foremost predicaments.

The Bankruptcy Protector

A Means to Eliminate Uncertainty in the Reorganization Process

INTRODUCTION

This newsletter covers key updates about developments in the Insolvency Law during the month of October 2021.

We have summarized the key judgments passed by the Supreme Court of India (SC), National Company Law Appellate Tribunal (NCLAT), the National Company Law Tribunals (NCLT) and the amendments in the Insolvency and Bankruptcy Code, 2016 (Code) by the Government of India. Please see below the summary of the relevant regulatory developments.

The Bankruptcy Protector

In the aftermath of 2017’s Hurricane Irma, wide swaths of Florida lost power. At The Rehabilitation Center at Hollywood Hills, 12 elderly patients succumbed to the heat when the skilled nursing facility’s air conditioning system failed following the electrical outage. In response, Florida’s legislature passed a law requiring all nursing homes and assisted living facilities to have backup generators capable of maintaining cool temperatures.