The U.S. Department of Justice (DOJ) has released guidance to its attorneys regarding requests to discharge student loans in bankruptcy cases.
This article first appeared in Accountancy Daily on 20 January 2023.
With supply chain problems, war in Europe and other issues leading to higher inflation and an increasingly uncertain economic outlook, this article explores the options available to companies experiencing financial distress.
At a time when, globally, insured businesses are under severe financial strain, the availability and extent of their insurance assets take on a new significance. It is significant not just for troubled businesses and their insurers, but also for third parties with potential or actual claims against those businesses.
Nicola Sharp of Rahman Ravelli considers a case that shows the courts’ reluctance to expand the jurisdiction of equity to award compound interest in common law claims.
In a landmark decision delivered on the 11th January 2023, in the names ‘Av. Jonathan Abela Fiorentino noe vs Eolia Limited’ (case no. 68/2022 ISB), the Civil Court (Commercial Section) rejected the application filed by defendant company demanding the Court to order a retrial of the liquidation proceedings that led to the company being placed into liquidation.
This decision constitutes the first occasion on which the Court pronounced itself on this specific legal matter, since the issue was previously untested.
A majority of the Supreme Court recently held that an insolvent company does not suffer any recoverable loss if payments are made from its bank accounts that discharge a debt owed by that company. This decision adds to the growing case law on the Quincecare duty.
The claim against HSBC
January, 2023 For Private Circulation - Educational & Informational Purpose Only Between the lines... A BRIEFING ON LEGAL MATTERS OF CURRENT INTEREST KEY HIGHLIGHTS ⁎ Delhi High Court: Invoking CIRP would not make the dispute non-arbitrable. ⁎ NCLAT: Section 96(1)(b) of the IBC does not stay any future liability or obligation. ⁎ NCLAT: The IBC does not provide for any look-back period on how far back fraudulent transactions can be investigated. ⁎ The changing contours of employment law in India. January, 2023 http://www.vaishlaw.com/ I.
On January 13, 2023, the Supreme Court granted the Lac du Flambeau Band of Lake Superior Chippewa Indians’ Petition for a Writ of Certiorari to resolve the split of circuits on whether Section 106 of the Bankruptcy Code evinces Congress’ unequivocal intent to abrogate Native American Tribes’ sovereign immunity.1
Should a bankruptcy court’s preliminary injunction be subject to appellate review?Taking the negative position, the U.S. District Court for the Eastern District of New York recently held that it had the “discretion … to decline to hear” an appeal from a bankruptcy court’s preliminary injunction. Navient Solutions, LLC et al. v. Homaidan et al., 2022 WL 17252459, *4 (E.D.N.Y. Nov. 28, 2022), quoting In re Kassover, 343 F.3d 91, 95 (2d Cir.
Quite recently, a Division Bench of the Hon’ble High Court of Delhi in Tata Steel BSL Limited v. Venus Recruiter Private Limited & Ors., LPA 37/2021, dated 13.01.2023, inter alia, determined, ‘Whether applications for avoidance of preferential transactions can be moved and heard by the Adjudicatory Authority (“AA”) after it has approved the resolution plan of a corporate debtor undergoing corporate insolvency resolution process (“CIRP”)?’