Our ‘Australian Restructuring and Insolvency Guide’, is a practical resource when facing distressed situations, enforcement options and insolvency processes in Australia. It brings together the key legal principles and the commercial considerations that typically arise when matters move from stability to stress.
India’s insolvency laws have moved from a complex, debtor-friendly system to a simpler, creditor-focused approach with the Insolvency and Bankruptcy Code (IBC). The 2026 Amendment Act builds on the 2016 IBC to fix problems like delays and misuse, aiming for quicker and more effective resolutions.
The Old Insolvency Regime
A 2 (two) judge bench of the Hon’ble Supreme Court of India (“Supreme Court”), in State Bank of India and Ors. vs. Doha Bank Q.P.S.C.
I. WHY THIS TOPIC IS IMPORTANT
Introduction
The Hon’ble Supreme Court’s decision in Ujaas Energy Ltd. v. West Bengal Power Development Corporation Ltd., Civil Appeal No. 3619 of 2026, decided on 20 March 2026, is an important pronouncement at the intersection of Insolvency Law and Arbitration
Factual Background
Overview
In this case, the EAT held that an employer that entered into administration had been proposing to dismiss as redundant 20 or more employees within a 90 day period, such that it ought to have conducted collective consultation, and the affected employees were entitled to a protective award.
Background
In a key test case on the relevance of tax losses (and more broadly, HMRC) under Part 26A of the Companies Act 2006, Mr Justice Michael Green in the High Court has sanctioned the second restructuring plan (RP2) of Waldorf Production UK Plc (the Plan Company), overriding HMRC’s challenge by using the cross-class cram down power in s.901G. The judgment resolves, at least at first instance, a series of live questions about the limits of HMRC’s ability to challenge restructuring plans and the proper scope of the “no worse off” test.
Introduction