On March 11, 2024, the Minister of Affordability and Utilities (MUA)
MONTHLY NEWSLETTER SERIES MARCH, 2024 | VOL. X VAISH ASSOCIATES ADVOCATES LEGALAXY WWW.VAISHLAW.COM LEGAL MAXIM Delegatus non potest delegare: ‘A delegate cannot further delegate’ MONTHLY NEWSLETTER SERIES MARCH, 2024 | VOL.
On February 21, 2024, the Hon’ble National Company Law Appellate Tribunal, Chennai (“NCLAT”) in the case of Kiran Martin Gulla RP of Vardharaja Foods Pvt. Ltd. held that when an extension to complete the corporate insolvency resolution process (“CIRP”) is granted by the Adjudicating Authority, then such period will be calculated form the date on which the Adjudicating Authority passes such an order.
Brief Facts
Ein Überblick über Inhalt und Anforderungen der planergänzenden Sanierungsinstrumente des StaRUG zum zielgerichteten Einsatz in der Praxis.
Re Ocean Tankers (Pte) Ltd (in liquidation) [2023] SGHC 330
The Singapore High Court recently ruled on issues relating to the assignability of claims, coverage of non-assignment clause and insolvency set-off.
Facts
The Lindahl tax team summarises two items of good news in the sphere of tax that arise in the case of restructurings: the proposal by the Ministry of Finance concerning new rules on deductions for previous years’ losses and a ruling from the Supreme Administrative Court stating that refusing interest deductions for intra-group acquisitions of shares is contrary to EU law in some cases.
PROPOSAL FOR NEW RULES ON DEDUCTIONS FOR PREVIOUS YEARS’ LOSSES
There is a growing trend of bankruptcy courts approving structured dismissals of chapter 11 cases following a successful sale of a debtor’s assets under section 363 of the Bankruptcy Code. A structured dismissal is a cost‑effective way for a debtor to exit chapter 11 and is an alternative to (a) confirming a post‑sale liquidating plan, which is expensive and not always viable, or (b) converting the case to chapter 7, which introduces significant uncertainty and unpredictability with the appointment of a chapter 7 trustee to replace management.
The Grand Court of the Cayman Islands recently confirmed expressly for the first time that it has jurisdiction to wind up a segregated portfolio company ("SPC") on the insolvency of one or more, but not all, of its segregated portfolios, and to appoint restructuring officers over those segregated portfolios. The judgment is In the matter of Holt Fund SPC
Background
Following our previous alert, in which we highlighted an issue with entries relating to registered security maintained at Companies House being incorrectly updated to indicate that they had in fact been discharged without the aware
Introduction