In Golfside Ventures Ltd (Re) (2023 ABKB 86) the Court of King’s Bench of Alberta (the “Court”) reaffirmed the Court’s authority to exercise inherent jurisdiction in proceedings under the Bankruptcy and Insolvency Act (the “BIA”) in circumstances where (1) the BIA is silent or has not dealt with a matter exhaustively; and (2) the benefit of granting the relief outweighs th
Brief Facts
In a unanimous decision, with concurring reasons, the Supreme Court of Canada (SCC) has rendered its long-anticipated judgment regarding the intersection of insolvency and domestic arbitration law in Peace River Hydro Partners v. Petrowest Corp., 2022 SCC 41.
Après plus de deux années mouvementées marquées par une pandémie, des conflits géopolitiques mondiaux, un ralentissement économique majeur suivi d’une succession record de rebonds des marchés financiers publics et privés, le milieu des affaires a dû adapter sa gestion du risque, et ce, à maintes reprises à travers ces situations exceptionnelles. Dans ce contexte, les entreprises font et feront face à des défis de taille.
After more than two turbulent years of a pandemic, global geopolitical conflicts, a serious economic downturn followed by a series of record rebounds in public and private financial markets, the business community has had to adapt its risk management repeatedly through these exceptional situations. In this context, companies face and will continue to face major challenges.
It is axiomatic – at least as a prima facie proposition – that insolvency is only concerned about assets which belong to the insolvent when the insolvency commences (or, as it is often said when a concursus creditorum is established on the commencement of insolvency). South African insolvency law respects property rights which have accrued under our law prior to the commencement of insolvency proceedings, including security interests such as mortgages, liens and cessions.
The Department of Telecommunications (DoT) has on 21 September 2022 released the Indian Telecommunication Bill, 2022 (Bill) which consolidates and amends the Indian Telegraph Act 1885, Indian Wireless Telegraphy Act 1933, and The Telegraph Wires, (Unlawful Protection) Act 1950. In Chapter 5 (Restructuring, Defaults in Payment and Insolvency), the Bill addresses situations wherein payment defaults or insolvency proceedings have been initiated against a telecommunication company (Telco or Corporate Debtor).
Introduction
The Insolvency and Bankruptcy Board of India (IBBI) on 16 September 2022 promulgated the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) (Fourth Amendment) Regulations, 2022 (CIRP Amendment Regulations) amending the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (CIRP Regulations).
The key amendments introduced by the CIRP Amendment Regulations are as follows:
Introduction
In a recent order passed by the National Company Law Appellate Tribunal, Principal Bench, New Delhi (“NCLAT”) in Somesh Choudhary v Knight Riders Sports Private Limited & Anr. under Company Appeal (AT) Insolvency No.