What you need to know

MONTHLY NEWSLETTER SERIES APRIL, 2025 | VOL. XXIII VAISH ASSOCIATES ADVOCATES LEGALAXY WWW.VAISHLAW.COM LEGAL MAXIM Inter alia: “Among other things” MONTHLY NEWSLETTER SERIES APRIL, 2025 | VOL.

The Federal Court in Brereton, in the matter of ICT Century Pty Ltd (In Liquidation) [2025] FCA 107 granted the liquidators of ICT Century Pty Ltd (in liquidation) (ICT) a one-year ‘shelf order’, or an extension of time to bring voidable transaction claims under section 588FF(1) of the Corporations Act 2001 (Cth).

Directors beware!

Für das Jahr 2025 wird in Deutschland die höchste Zahl an Unternehmensinsolvenzen seit der Wirtschaftskrise des Jahres 2009 erwartet. So jedenfalls titelte kürzlich die Wirtschaftswoche (WiWo). Für den Januar 2025 meldete das Statistische Bundesamt (Destatis) bereits eine Zunahme der beantragten Insolvenzverfahren um rund 14 % gegenüber dem Vorjahresmonat.

The Hon’ble Supreme Court of India (“Supreme Court”) by a 2:1 majority in Independent Sugar Corporation Limited v Girish Sriram Juneja and Ors1, has held that in case of resolution plans proposing a combination (i.e., a merger or amalgamation of the entities) of a corporate debtor, the Competition Commission of India (“CCI”) must first grant the necessary approval before such Resolution Plan is placed before the Committee of Creditors (“CoC”) for it

1. Introduction

Chapter 15 of the Bankruptcy Code is a mechanism for debtors to have foreign insolvency proceedings recognized in the U.S. and to have the orders entered by a foreign court in those insolvency proceedings abroad given effect in the U.S.

Key Issues

RECOGNITION OF A FOREIGN MAIN PROCEEDING