2016 年破産倒産法(Insolvency and Bankruptcy Code, 2016)は、債権者が直面している債務者の未払 問題を解決するため、従来の倒産法を刷新する形で制定されました。2020 snapshot にて解説して以降も、 法の趣旨に沿う形で、および、昨今の COVID19 によるパンデミックの影響も踏まえながら、法は改正を 重ねてきました。また、主に実務上の観点から、各倒産法廷も法の発展に大きな役割を果たしています。 2021 年のインドの破産倒産法分野における重要なアップデート事項について、以下、列挙する形でま とめました。全国会社法審判所(以下「NCLT」)、全国会社法上訴裁判所(以下「NCLAT」)、最高裁判所 (以下「SC」)にて下された判決に加えて、政府が提案する改正事項についても取り上げています

The Insolvency and Bankruptcy Code, 2016 (Code) was enacted to revamp the insolvency and bankruptcy laws and resolve problems being faced by creditors due to non-repayment of outstanding dues by corporate borrowers. Since our 2020 snapshot on 15 key developments in insolvency law, the Code has been further refined and amended in line with the object of the Code and taking into account the COVID 19 pandemic. The insolvency courts have also played their part in the development of the Code considering the business realities and practical considerations.

今回のニュースレターでは、2021 年 12 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）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

INTRODUCTION

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

Ministry of Corporate Affairs proposes changes to theInsolvency and Bankruptcy Code for time bound resolution of stressed assets.

Ministry of Corporate Affairs (“MCA”) has, vide a notification dated 23 December 2021, proposed amendments to the Insolvency and Bankruptcy Code, 2016 (“Code”) to facilitate a swift admission process, streamline provisions concerning avoidable transactions and wrongful trading, and promote timely approval of resolution plans.

In its top consumer credit law decisions of 2021, the U.S. Court of Appeals for the Fifth Circuit determined that settlement of an FDCPA claim does not trigger an attorney fee award, examined third-party contact as a “communication” under the FDCPA, and ruled there was no “partial surrender” of collateral in a Chapter 13 plan.

Tejero v. Portfolio Recovery Assocs., LLC, 993 F.3d 393 (5th Cir. 2021)

When 2020 ended, many of us were unsure what 2021 would look like from a bankruptcy perspective. Would consumer filings increase? Could we see bankruptcy reform and particularly in the area of discharge of student loans? There was a lot to consider throughout the year. This article will provide some insight as to what we saw and where we may be headed in 2022.

Bankruptcy Filings Down in 2021

Bankruptcy filings through the first 11 months of 2021 were at their lowest levels since the 1980’s.

On 23 November 2021, the Supreme Court of India, in the case of TATA Consultancy Services Ltd. v. Vishal Ghisulal Jain, Resolution Professional, SK Wheels Pvt. Ltd. (TCS Case), clarified that the jurisdiction of the National Company Law Tribunal (NCLT) under the Insolvency and Bankruptcy Code, 2016 (Code) cannot be invoked by the corporate debtor if the termination of a contract by a third party takes place on grounds unrelated to the insolvency of the corporate debtor.

Brief facts

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:

The U.S. Court of Appeals for the Seventh Circuit recently affirmed the dismissal of several actions by a borrower against a mortgagee, and in so ruling also held that it did not have jurisdiction to review the lower court’s remand order, and that the borrower had waived his right to challenge an award of attorney fees and costs in connection with the remand.