Resolution plan binding on Central & state govts, local authorities, says Supreme Court
The Supreme Court in an important judgement on has reiterated that once a resolution plan is duly approved by the...
No conflict between insolvency and anti-money laundering laws, says NCLAT
There is no conflict between Prevention of Money Laundering Act (PMLA) and Insolvency and Bankruptcy Code (IBC), and even if...
Why approval of fees of a professional is not treated as commercial wisdom of CoC
By Arvind Mangla In a recent judgement the Supreme Court of India in Alok Kaushik Vs Bhuvaneshwari Ramanathan and Others...
Govt unveils pre-pack regulations
The Insolvency and Bankruptcy Board of India (IBBI) releases the pre-pack regulations to be called the Insolvency and Bankruptcy Board...
53% in Canada within $200 of financial insolvency
More than 53% in Canada say that they are $200 or less from being financially insolvent, says the latest survey...
List of amendments made in IBC laws to pave way for pre-pack scheme
The President promulgated the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 on 4 April 2021, paving the way for pre-pack...
US bankruptcy filings reverse downward trend; jump 39% in March over February
The effects of government supports given to businesses and individuals last year owing to Covid-19 seems to be petering out...
Gurgaon-based hotelier drags OYO subsidiary into insolvency court
Gurgaon-based hotelier Rakesh Yadav, who runs a 21-room hotel by the brand name Yellow White Residency has initiated insolvency proceedings...
Highlights of pre-pack scheme for MSMEs
The government has given a go-ahead to the pre-pack scheme for micro, small and medium enterprises (MSME) through an ordinance...
Financial creditors recover only 10% of claims in 23 resolutions during Oct-Dec quarter
In the October-December 2020 quarter, 23 Corporate Insolvency Resolution Processes (CIRPs) yielded resolution plans helping banks and other financial institutions...