CASE BRIEF
Case Name: Sri Lakshmi Hotel Pvt. Limited & Anr vs Sriram City Union Finance Ltd & Anr.
Case No.: Civil Appeal No. 13785 of 2025
Citation: 2025 INSC 1327
Court: Hon’ble Supreme Court of India.
Coram: Hon’ble Mr. Justice J.B. Pardiwala and Hon’ble Mr. Justice, K.V. Viswanathan
Date: 18 November 2025
1. FACTUAL MATRIX
In the recent case of Mitchell and another (Joint Liquidators of MBI International & Partners Inc (In Liquidation)) v Sheikh Mohamed Bin Issa Al Jaber [2025] UKSC 43, the UK Supreme Court clarified the scope of fiduciary duties owed by directors and controllers of companies following the commencement of liquidation. The Court determined that a director whose statutory powers have ceased may still owe fiduciary duties if he purports to exercise authority over the company’s assets and intermeddles with them dishonestly.
Last year saw several important decisions relating to restructuring plans, including Petrofac (see our Law-Now: Saipem judgment: fair benefit sharing for all creditors) and Waldorf (see our Law-Now: Waldorf Plan Rejected: Court stresses fairness and good faith).
Welcome to Distressed Debt Legal Insights, Ropes & Gray’s source of timely insights for professionals navigating the complex world of liability management and special situations finance. In this issue we discuss the first major decision of 2026: STG Logistics. The January 3 opinion primarily denies the motions to dismiss brought by defendants seeking to validate their October 2024 drop down plus double dip transaction.
Transaction Details and Procedural History
The U.S. Supreme Court does not like the Bankruptcy Code. It never has. Two examples are:
Une question pratique récurrente dans les procédures d’insolvabilité concerne la manière dont le créancier peut prouver qu’une facture a bien été communiquée au débiteur. Dans une décision récente, le tribunal hongrois a examiné si des captures d’écran tirées d’un système de facturation électronique suffisent à prouver la remise et la prise de connaissance d’une facture, en l’absence de preuve postale traditionnelle. Dans notre article, nous analysons cette décision.
1. Faits de l’affaire
Key Points
In Victor Saw Seng Kee ((as joint liquidator of London Biscuits Bhd) (In liquidation)) v Wong Weng Foo & Co & Anor and other appeals [2025] MLJU 3886, the Federal Court made several significant rulings in relation to the exercise of powers by joint liquidators, appointment and removal of liquidators and in particular, the priority of termination benefits paid to employees retained by the liquidator to carry on the business of the company post-liquidation with the sanction of the Court, inter se unsecured debts of the company.
23 декабря 2025 года Пленум Верховного Суда РФ принял постановление № 41 "Об установлении в процедурах банкротства требований контролирующих должника лиц и аффилированных лиц должника"[1] (далее – "Постановление").
On 23 December 2025 the Plenary Session of the Russian Supreme Court issued Judgment No. 41 “On Establishing the Claims of the Controlling Persons of a Debtor and the Affiliates of the Debtor during Bankruptcy Proceedings"[1] (hereinafter the "Judgment").