Facts

The Supreme Court of India (“SC”) in the judgment New Delhi Municipal Council v. Minosha India Limited, dated 27 April, 2022, Civil Appeal No. 3470 of 2022 has clarified the position on the applicability of the Limitation Act, 1963 (“Act”) and the Insolvency and Bankruptcy Code, 2016 (“IBC”). 

Introduction

2016年破産倒産法については、導入以来、継続して改正が行われてきています。2018年倒産破産法(第2次修正)法(以下「2018年改正法」)により、不動産プロジェクトの割当者(以下「住宅購入者」)は、「金融債権者」の範囲に含まれ、不動産開発業者に対する破産手続を開始することができるようになりました。その後、当該2018年改正法については、Pioneer Urban Land and Infrastructure Ltd. v. Union of Indiaにて最高裁で争われ、最終的に憲法上の有効性が認められました。

En 2021, plusieurs décisions judiciaires d’importance pour les prêteurs commerciaux, les entreprises et les professionnels de l’insolvabilité ont été rendues d’un bout à l’autre du Canada.

The Commercial Court (Andrew Baker J) has handed down judgment on a jurisdiction challenge inInvest Bank v El-Husseini[2022] EWHC 894 (Comm). Daniel Warents (whose oral submission to the Court were said to have been “very well presented”) and Emma Hughes acted for the first, third, and fourth defendants (instructed by Streathers Solicitors LLP).

A discharge in bankruptcy usually discharges a debtor from the debtor’s liabilities. Section 523 of the Bankruptcy Code, however, sets forth certain exceptions to this policy, including for “any debt . . . for money, property, services, or an extension, renewal, or refinancing of credit, to the extent obtained by . . . false pretenses, a false representation, or actual fraud. . . .” 11 U.S.C. § 523(a)(2)(A).

In brief

On 6 May 2022, the Honorable Madam Justice Linda Chan granted a petition for the winding-up (in Hong Kong) of Up Energy Development Group Limited, which was incorporated in Bermuda.

Johnson & Johnson and its affiliates (“J&J”) have been selling baby powder for decades.

Along the way, studies began showing that talc in J&J’s baby powder can cause ovarian cancer and mesothelioma. So, since 2016, over 38,000 lawsuits have been filed against J&J contending its baby powder talc causes cancer.

In July of 2018, the talc litigation against J&J built-up serious steam when a jury awarded 22 women a $4.69 billion (yes, with a “b”) verdict against J&J—an appellate court reduced the verdict to $2.25 billion.

Tennis star Boris Becker has recently been found guilty of four charges under the Insolvency Act 1986 (the Act). This case shows that the Insolvency Service will take similar cases seriously and shows that there are clear consequences for individuals who try to conceal assets in bankruptcy.

Courts Begin to Wrestle with the Impact of on a Debtor’s Ability to Recover Estate Property

During the course of 2022, Part V of the Cayman Islands Companies Act (the "Companies Act") will be amended to introduce a new restructuring officer regime available to companies in financial distress, which can be accessed without the need to present a winding up petition to the Grand Court of the Cayman Islands ("Cayman Court").