Objective

In the context of an insolvent or near insolvent company, a receiver will be appointed, in the ordinary course, by a secured creditor seeking to have the assets which are the subject of its security realised to enable the payment of its claim. The appointment, most often, will be made under the agreement by which the security is granted or might be made under one of the property law statutes which authorise the appointment of a receiver by the court for the purpose of enforcing a security.

Object

Liquidation involves the collection of the company's assets, the realisation of those assets and the distribution of the proceeds of their sale to the company's creditors.

Process of appointing liquidator

Introduction

Informal workout agreements can renegotiate, delay, reduce or waive pre-existing debts owed by a company. For the debtor company, the main purpose of entering into an informal workout is to obtain agreements from its creditors to relinquish rights and refrain from enforcing certain debt covenants. The following are some commonly used informal workout mechanisms:

Introduction

Under the Insolvency and Bankruptcy Code, 2016 (Code), the resolution professional or the interim resolution professional (collectively referred as RP) is vested with the responsibility of running the business of the corporate debtor as a going concern and conducting the corporate insolvency resolution process (CIRP). The RP must also ensure that CIRP is conducted in a time-bound manner and the value of the assets of the corporate debtor is maximised during the process.

Este mes apenas se han publicado resoluciones que consideremos reseñables, sólo tres de tres audiencias provinciales nos han parecido dignas de atención. A cambios las tres hacen pronunciamentos muy interesantes.

Audiencias Provinciales

Compensación de pagos entre un hotel y su operador por derivarse de una misma relación contractual.

The Supreme Court's judgment in BTI v Sequana is long-awaited, and welcome. The court has confirmed that directors do have a common law creditors' duty, and that it works on a sliding scale basis.

2016年破産倒産法および2013年会社法の下、会社法審判所(NCLT)の命令に対しては、会社法上訴審判所(NCLAT)に上訴することができます。上訴期間は、破産倒産法においては最長45日、会社法においては最長90日、となっています。また、2016年NCLAT規則(NCLAT規則)において、上訴または上訴時の添付文書に欠陥があることが判明した場合、上訴を行った当事者は、7日以内に欠陥を修復し、上訴を「再提示(re-present)」しなければならないと規定されています。なお、当該期間は、当事者が十分な理由を示した場合、妥当な期間延長することができます。

Under the Insolvency and Bankruptcy Code, 2016 (Code) and under the Companies Act, 2013 (Act), an order of the National Company Law Tribunal (NCLT) can be appealed before the National Company Law Appellate Tribunal (NCLAT). The time-period for filing such an appeal is maximum of 45 days under the Code and 90 days under the Act.

Tribunal Supremo

Jurisprudencia de la Sala de lo Contencioso del Tribunal Supremo: El adquirente de la unidad productiva se subroga en las deudas de la Seguridad Social anteriores al concurso respecto de la totalidad de los trabajadores de la concursada.

Sentencia 577/2022 del Tribunal Supremo, Sala de lo Contencioso, de 17 de mayo de 2022. Ponente: José Manuel Bandrés Sánchez-Cruzat.