In the case of State Bank of India v. Moser Baer Karamachari Union & Ors., the Supreme Court of India (“Supreme Court”) has upheld the order of the National Company Law Appellate Tribunal (“NCLAT”) in the matter of State Bank of India v. Moser Baer Karamachari Union & Anr. (“Moser Baer Case”).
In the case of IL&FS Infrastructure Debt Fund v. McLeod Russel India Limited, the Kolkata bench of the National Company Law Tribunal (“NCLT”) held that in order to determine whether a shortfall undertaking will qualify as an instrument of guarantee as defined under Section 126 of the Indian Contract Act, 1872 (“Contract Act”), one has to look into the intention of the parties as reflected in the terms of such undertaking.
Many cryptocurrency lenders have declared bankruptcy. These loss events are indicators of the significant losses the cryptocurrency market has experienced this year.
For investors who have suffered, an important consideration is how to capitalize on these losses. Accordingly, this article will analyze the recent Celsius Network (“Celsius”) bankruptcy and the tax strategy of writing off bad debt.
The Celsius Bankruptcy
Juan Carlos Machorro, Carlos Olvera and Ricardo Orea, Santamarina y Steta
This is an extract from the 2023 edition of GRR's the Americas Restructuring Review. The whole publication is available here.
In summary
En raison de la hausse du commerce mondial, la question du recouvrement international des créances ne peut être évitée.
The Polyvocal Court
This series looks at the enforcement options available to creditors to recover sums due by a debtor in Scotland. In the previous edition we looked at Inhibition which is similar to a Charging Order in England. A reminder can be read here. In this edition, we now turn to look at how Earnings Arrestment operates in Scotland.
The Debt Respite Scheme (Breathing Space Moratorium and Mental Health Crisis Moratorium) (England and Wales) Regulations 2020, commonly referred to as the "Breathing Space Regulations", came into force on 4 May 2021. The Regulations provide eligible individuals with problem debt a period of protection from their creditors known as a "breathing space moratorium".
In This Issue:
There are significant differences in the procedures available to lenders north and south of the border when it comes to enforcing fixed charges or standard securities over real/heritable property. In this blog, we will compare the process in England & Wales ("E&W") of appointing a fixed charge or "LPA" receiver with the Scottish calling-up procedure
England & Wales: LPA receivers