In a decision delivered by Delhi High Court on June 24, 2024 in the case of The National Sewing Thread Company Limited v. Deputy Commissioner of Income Tax (2024 DHC 4771-DB) it was held that once a resolution plan is approved by the adjudicating authority, the claims not included in the resolution plan stand extinguished, and the same is binding on all stakeholders, including the Central and State governments.
They say every man needs protection, they say that every man must fall.1
Monthly Newsletter July 2024
Restructuring and Insolvency
Les hpitaux aux urgences La procdure concordataire comme possible outil d'assainissement
Josef Caleff, Olivia Wipf
Key Take-aways
1. De plus en plus d'hpitaux suisses se trouvent dans une situation financire difficile en raison de l'augmentation des cots.
2. Le conseil d'administration, en tant qu'organe de direction suprme d'un hpital organis sous forme de socit anonyme, est tenu d'examiner et, le cas chant, si ncessaire, de prendre des mesures d'assainissement.
File your proof of claim before the bar date. That’s a principle every creditor in a bankruptcy case should adhere by. But on June 7, 2024, the United States Bankruptcy Court for the Southern District of New York may have increased the degree of diligence parties need to conduct to determine whether they are a potential creditor in a case and therefore required to file a proof of claim.
Monthly Newsletter July 2024
Restructuring and Insolvency
Spitler auf der Notfallstation das Nachlassverfahren als mgliches Sanierungsinstrument
Josef Caleff, Olivia Wipf
Key Take-aways
1. Immer mehr Schweizer Spitler befinden sich aufgrund steigender Kosten in einer finanziellen Notlage.
2. Der Verwaltungsrat als oberstes Fhrungsorgan eines als Aktiengesellschaft organisierten Spitals ist verpflichtet, Sanierungsmassnahmen zu prfen und ntigenfalls zu ergreifen.
Monthly Newsletter July 2024
Restructuring and Insolvency
Hospitals in the emergency room debt restructuring proceedings as a possible restructuring instrument
Josef Caleff, Olivia Wipf
Key Take-aways
1. More and more Swiss hospitals are finding themselves in situations of financial distress due to rising costs.
2. It is the duty of the board of directors as the highest management body of a hospital organized as a Swiss stock corporation to assess and, if necessary, adopt restructuring measures.
In today's rapidly evolving business landscape, businesses find themselves at the intersection of technological innovation and geopolitical and economic turbulence. Despite the increased reliance on software systems and digital infrastructure, it remains peculiar that in many EU Member States there's still no clear framework for handling software licenses in insolvency.
Introduction
On April 26, 2024, in what has been hailed as a pivotal moment for Indian aviation and insolvency law, the Delhi High Court (“High Court”) directed the Directorate General of Civil Aviation (“DGCA”) to deregister planes leased to Go First within five working days, providing much-sought after relief to the lessors of the aircraft.
In its decision of 6 May 2024, the Swiss Federal Supreme Court (SFSC) clarifies the conditions for a claimant to appeal an interim decision ordering it to provide security for the defendant’s costs due to appearing insolvent or having liquidity problems (case No. 4A_93/2024 [in German]; intended for official publication).