In order to facilitate the smooth conduct of business transactions the Government has put in numerous efforts in the form policies and regulations. While the greatest threat posed to the lenders in the modern market operations is the impact of non-performing assets or bad loans. In order to maximize the value assets in a time bound manner, the Government enforced the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the 'IBC').
The Insolvency and Bankruptcy Code, 2016
Introduction
The court has to classify creditors or members if there are such classes and before sanctioning the scheme, to see that their respective interest are taken care of.1
On 29 October 2018, HM Treasury published a consultation paper on a breathing space scheme and a statutory debt repayment plan, which were both part of the government’s 2017 manifesto commitments.
Introduction
On 15 April 2010, the High Court confirmed the appointment of a full-time administrator to Quinn Insurance, Ireland’s second largest insurance company. Though the Quinn Group briefly fought against the proposed administration, it ultimately withdrew its objection and conceded the appointment. The insurance company is now being run by two outside managers, who will run the business as a going concern in an effort to get it back on a secure financial footing.
The intellectual property (IP) rights that protect key software, brands and technical processes can be amongst the most valuable assets of a company. But what happens to IP rights when a company becomes insolvent? What happens to the insolvent company's licences, and to its licensees who may have invested significant amounts of time and money in setting up manufacturing facilities to exploit the licensed technology or in advertising under a particular trade mark?
In the matter of Birchport Limited (under the protection of the Court) and in the matter of the Companies (Amendment) Act, 1990
INTRODUCTION
Many practitioners may not think of stamp duty as a particular risk when taking on a liquidation or a receivership and there is limited published guidance on the topic. Against a background of an increasing number of business failures including companies operating in property development it is likely that liquidators and receivers will be faced with stamp duty issues on a more frequent basis. The purpose of this article is to identify some areas where practitioners may encounter stamp duty issues.
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