Why is Subsidiary Legislation 386.24 Companies Act (Suspension of Filing for Dissolution and Winding Up) Regulations (the “Regulations”) still in force?
Almost four years down the line, practitioners cannot help but question exactly why the Regulations are still in force now that most (if not all) pandemic measures have been totally lifted.
In recent years, a consistent interplay has emerged between the Insolvency & Bankruptcy Code, 2016 ("IBC") and the Indian Stamp Act, 1899 ("Stamp Act"). This interaction has been further heightened due to the ongoing debate surrounding inadmissibility of documents not adequately stamped. The convergence of these statutes becomes particularly relevant when a document, serving as the foundation for determining a debt, is presented before the adjudicating authority.
Alice Belisle Eaton and Billy Clareman Discuss Latest Restructuring
Developments at PLI Event
Practising Law Institute’s “Recent Developments in Distressed Debt, Restructurings,
and Workouts 2024” featured restructuring partner Alice Belisle Eaton and
litigation partner Billy Clareman. Co-chair Alice delivered opening remarks and
spoke on “Market Update: Distressed Debt and Restructurings,” “Corporate
Governance, Officer and Director Risks and Claims in Distressed Situations” and
You can’t make this stuff up. The legal issues are pedestrian. But the facts behind those issues are incredible!
Litigation History
Here’s the boring stuff first.
On January 8, 2024, the U.S. Supreme Court denies certiorari in Mann v. LSQ Funding Group, L.C. (Case No. 23-425). Here’s the procedural background:
Friday January 26, 2024
Financial Advisory Partner, Jim Davies, explores the recent developments in Restructuring Plans
Financial Advisory Partner, Jim Davies, led the relevant alternative valuation analysis for four Restructuring Plans that were sanctioned by the High Court in 2023. Here, he explores recent developments in light of the Adler Restructuring Plan being overturned.
In the first Part 26A appeal decision since the inception of the restructuring plan in 2020, the Court of Appeal has set aside the restructuring plan sanction order that was granted to German real estate group, Adler.
What Happened
This article analyses India’s proposal to adopt the UNCITRAL Model Law on Cross-Border Insolvency.
Following our article on statutory demands (“SD”), if a company has received a SD and has failed to raise a legitimate dispute or make payment, then the creditor can proceed with a winding up petition. Winding up petitions play a crucial role in the legal landscape, particularly in the context of debt recovery and business insolvency.
The debt purchaser in In re McIntosh argued that because it was enforcing a debt that was not listed correctly on the debtor’s bankruptcy schedules, it was entitled to assume the debt had not been discharged. The U.S.