Shinichiro Abe, Kasumigaseki International Law Office (KILO)
This is an extract from the 2021 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
Meiyen Tan, Keith Han, Angela Phoon and Zephan Chua, Oon & Bazul LLP
This is an extract from the 2021 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
This chapter discusses certain recent developments and issues that have emerged in Singapore’s fast-developing debt restructuring regime.
Paul Apáthy and Angus Dick, Herbert Smith Freehills
This is an extract from the 2021 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
Heidi Chui, Stevenson, Wong & Co
This is an extract from the 2021 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
Chul Man Kim, Ki Young Kim, Sun Kyoung Kim, Su Yeon Lee, Jin Seok Choi and Sy Nae Kim, Yulchon LLC
This is an extract from the 2021 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
Debby Sulaiman, Hiswara Bunjamin & Tandjung
This is an extract from the 2021 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
Abhishek Tripathi and Mani Gupta, Sarthak Advocates & Solicitors
This is an extract from the 2021 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
Nuo Ji, Lingqi Wang and Jessica Li, Fangda Partners
This is an extract from the 2021 edition of GRR's the Asia-Pacific Restructuring Review. The whole publication is available here.
In summary
The passage and the working of the Insolvency and Bankruptcy Code, 2016 (Code) is an important landmark in India’s tryst with insolvency and debt restructuring laws. Further, the interpretation provided by the courts, from holding that the Code is not a means for recovery of dues to reinforcing the primacy and commercial wisdom of the committee of creditors, along with appropriate and timely amendments by the legislature in line with the object of the Code has certainly aided in the successful implementation of the Code.
THE ISSUE
In a recent judgment, i.e., on 17 January 2020, the Indian appellate insolvency tribunal, namely, the National Company Law Appellate Tribunal (NCLAT) held in M. Ravindranath Reddy v. G. Kishan, that the lease of immovable property cannot be considered as supply of goods or rendering any services and therefore the due amount cannot fall within the definition of operational debt under the Insolvency and Bankruptcy Code, 2016 (Code).