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IBBI’S Proposal for a more Efficient Resolution of Real Estate Insolvencies

BACKGROUND

India, Company & Commercial, Insolvency & Restructuring, Litigation, Real Estate, Khaitan & Co, Insolvency, Insolvency and Bankruptcy Board of India
ERGO Analysing Developments Impacting Business: IBBI’s Clarification Empowers the Role of Authorized Representative

Background

The Insolvency and Bankruptcy Board of India (IBBI) has on 24 September 2024 published the IBBI (Insolvency Resolution Process for Corporate Persons) (Second Amendment) Regulations, 2024 (Amendment Regulations) with the primary aim to streamline and reduce the delays faced in insolvencies containing class of creditors. 

Amendments Introduced

India, Insolvency & Restructuring, Khaitan & Co, Insolvency, Insolvency and Bankruptcy Board of India
Sanction for scheme of arrangement refused by Hong Kong court: Key takeaways

Notwithstanding that the requisite statutory majority was obtained in the relevant creditors’ scheme meeting, the Hong Kong Companies Court refused to sanction a scheme of arrangement propounded by a company that professed to be insolvent in a recent judgment [2024] HKCFI 2216.

Hong Kong, Insolvency & Restructuring, Litigation, Des Voeux Chambers
Introduction of Guidelines for the Committee of Creditors - A Step in the Right Direction

BACKGROUND

India, Insolvency & Restructuring, Litigation, Khaitan & Co, Insolvency, Insolvency and Bankruptcy Board of India