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WE ACQUIRE COMPANIES FACING DISTRESS INSOLVENCY BANK DEFAULTS TRIBUNALS OR COURT CASES AS ON WHERE BASIS ANYWHERE IN INDIA AND IN SPECIAL SITUATION ALSO ARRANGE LITIGATION FUNDING                     ------------ IMPORTANT INFORMATION (1)COMPANY TAKEN IN TOTO (2)PROPOSAL FOR PROP OR PARTNERSHIP FIRM OR TRUST NOT ENTERTAINED (3)CONSULTANTS AND BROKERS PROTECTED (4)CASES WHERE ED ATTACHED PROPERTIES ENTERTAIN IF ATTACHMENT IS CHALLENGED IN TRIBUNAL (5)CASES WHERE PROMOTERS LOOKING TO EXIST WELCOMED FOR MORE INFORMATION EMAIL =distressbuyers@gmail.com JOIN FOLLOWING GROUP TO POST ADVERTISEMENTS https://lnkd.in/dpWR4thf WE ACQUIRE COMPANIES FACING DISTRESS INSOLVENCY BANK DEFAULTS TRIBUNALS OR COURT CASES AS ON WHERE BASIS ANYWHERE IN INDIA AND IN SPECIAL SITUATION ALSO ARRANGE LITIGATION FUNDING                     ------------ IMPORTANT INFORMATION (1)COMPANY TAKEN IN TOTO (2)PROPOSAL FOR PROP OR PARTNERSHIP FIRM OR TRUST NOT ENTERTAINED (3)CONSULTANTS AND BROKERS PROTECTED (4)CASES WHERE ED ATTACHED PROPERTIES ENTERTAIN IF ATTACHMENT IS CHALLENGED IN TRIBUNAL (5)CASES WHERE PROMOTERS LOOKING TO EXIST WELCOMED FOR MORE INFORMATION EMAIL =distressbuyers@gmail.com JOIN FOLLOWING GROUP TO POST ADVERTISEMENTS https://lnkd.in/dpWR4thf WE ACQUIRE COMPANIES FACING DISTRESS INSOLVENCY BANK DEFAULTS TRIBUNALS OR COURT CASES AS ON WHERE BASIS ANYWHERE IN INDIA AND IN SPECIAL SITUATION ALSO ARRANGE LITIGATION FUNDING                     ------------ IMPORTANT INFORMATION (1)COMPANY TAKEN IN TOTO (2)PROPOSAL FOR PROP OR PARTNERSHIP FIRM OR TRUST NOT ENTERTAINED (3)CONSULTANTS AND BROKERS PROTECTED (4)CASES WHERE ED ATTACHED PROPERTIES ENTERTAIN IF ATTACHMENT IS CHALLENGED IN TRIBUNAL (5)CASES WHERE PROMOTERS LOOKING TO EXIST WELCOMED FOR MORE INFORMATION EMAIL =distressbuyers@gmail.com JOIN FOLLOWING GROUP TO POST ADVERTISEMENTS https://lnkd.in/dpWR4thf

Insolvency proceedings litigation- Relevant Laws and regulations: Counter Affidavit (3) Now this is supreme court's Registry order in the matter for filing the Counter Affidavit in 3 weeks time as against the 31 Jan 2024 Bombay High Court order which will remain stayed until final order of impugned S L P before the supreme court. I was supposing, How much fee a Lawyer would charge for this Counter Affidavit. The time involves in this scenario will be around 1 day research and another arranging time of drafting roughly around 3 to 4 hours. The cost may be 25,000/ or more ? - Think about this? ****** So far, similarly 2 more drafting questions pertaining to I B C Code have been previously given in 2021 Exam - Q No 1 Option 2 ( Section 1) and in 2018 - Q No 1 . Altogether there is 3 drafting questions on Insolvency proceedings covering section 9 of the Act along with limitation of filing Arbitration Petitions as time barred or pre existing dispute of debts. For general perception see some more supreme court's decision in the context viz M/s Consolidated Construction vs M/s Hitro Energy Solution, Feb 2022 & Sheshnath Singh vs Baidyabati Sheosaphulli Cooperative Bank Ltd 2023 CA - 2019. The Q No 1 of Drafting exam 2018 is completely based on two decision viz one by Chandigarh N C L AT bench in the matter of Macquarie Bank Ltd vs Uttam Galva Mettalics Ltd ,17th July 2017 abd further in common civil appeal before the supreme court in Macquarie Bank Ltd vs Shilpi Cable Technologies Ltd along with Macquarie Bank Ltd vs Uttam Galva Mettalics Ltd Dec 2017 ( 2018) 2 scc 674. The implicit issues in these cases were ,Is foreign company/ Entity can be a operational creditor within the I B C Code to initiate corporate Insolvency proceedings under section 9 and Whether an Advocate send the demand notice under section 8 of the Code on behalf of operational creditor. The Q No 1 of option 2 of 2021 Drafting paper exam I'd quite imperative and significant both for drafting and analysing implicit functional mechanism of section 8 & 9 of I B C laws.

"Workshop on the Granting of Administrator License in Insolvency Proceedings" organized by the Ministry of Justice in collaboration with HBS LAW The purpose of the workshop was to disseminate and discuss the "Prakas on the Granting of Administrator License in Insolvency Proceedings" which prescribes inter alia the competent authority, conditions and procedures for granting and withdrawing an insolvency administrator license, and the rights and obligations of an administrator in performing roles and duties. Simultaneously, the workshop was an important opportunity for expert speakers such as lawyers, administrators, court officials and other legal experts to share and exchange knowledge and experiences about implementing the Law on Insolvency in the Kingdom of Cambodia. The Law on Insolvency ensures risk-sharing amongst market economy participants by providing a predictable, equal, and transparent dispute resolution mechanism. The Law on Insolvency protects rights to the maximum extent through a value preservation and improvement mechanism of the debtor’s assets. The Law on Insolvency allows the debtor, natural person, or partnership to be released from responsibilities upon the conclusion of the insolvency proceedings. The Law on Insolvency protects the shareholder(s), director(s), partner(s), or manager(s) from personal liability in regard to a limited liability company’s liability. Given the importance of the Law on Insolvency, it is imperative that an insolvency administrator is highly capable in the areas of corporate law, business administration, and financial management, and is highly ethical to fulfill this important duty. #InsolvencyProceedings #hbslaw

Breaking Legal Ground: Supreme Court's Landmark Decision on Corporate Insolvency Resolution Process - What You Need to Know The Supreme Court of India has delivered a significant ruling in Harpal Singh Chawla v. Vivek Khanna & Ors., reshaping how Corporate Insolvency Resolution Process works under the Insolvency and Bankruptcy Code, 2016. This decision marks a crucial development in corporate insolvency law that impacts businesses, creditors, and legal practitioners alike. The Court has definitively ruled that CIRP cannot be confined to a single project of a corporate debtor, dismissing an appeal that sought to limit the insolvency proceedings of Spaze Towers Pvt. Ltd. to one specific real estate project. This ruling reinforces the comprehensive nature of the insolvency resolution process under Section 7 of the IBC. Key Aspects of the Ruling: 1. The CIRP must encompass all projects and assets of the corporate debtor 2. Financial creditors from all projects have the right to file claims 3. The resolution process cannot be fragmented or limited to specific projects 4. The corporate debtor must be treated as a single entity for insolvency purposes Legal Implications: This judgment strengthens the rights of financial creditors across multiple projects, ensuring equal treatment and fair consideration of all claims. It aligns with the IBC's fundamental principle of maximizing asset value and ensuring equitable distribution among creditors. Impact on Stakeholders: Real estate developers and corporate entities must now prepare for comprehensive insolvency proceedings that consider all ongoing projects. Financial creditors, particularly real estate allottees, gain enhanced protection as their rights cannot be limited to specific projects. Professional Opinion: As a legal practitioner, I believe this ruling brings much-needed clarity to the scope of CIRP. It prevents cherry-picking of projects and ensures a more holistic approach to corporate insolvency. This decision will likely lead to more efficient resolution processes and better protection of creditor interests. Future Considerations: Companies should review their project structures and financial arrangements in light of this ruling. Legal teams must prepare for more comprehensive CIRP proceedings that consider the entire corporate entity rather than individual projects. Want to understand how this ruling affects your business? Let's connect to discuss the implications and strategies for compliance. Our team specializes in corporate insolvency matters and can help navigate these evolving legal requirements. #CorporateLaw #Insolvency #LegalUpdates #SupremeCourt #BusinessLaw #LegalProfessional #IBC2016

The latest edition of Insolvency Matters is out now, taking a look back at some of the key decisions and developments in insolvency law and practice from the second half of 2024. Read more:

The latest edition of Insolvency Matters is out now, taking a look back at some of the key decisions and developments in insolvency law and practice from the second half of 2024. Read more:

Are you an insolvency practitioner? Then this case law update prepared by Alison Kirby for the Insolvency Practitioners Association (IPA) newsletter is a must-read! One recent case that caught our eye is the James Court Ltd (in liquidation) v Hindsight Contractors Ltd [2024] EWHC 1101 (Ch) judgment. The judgment raises several critical points that all insolvency practitioners should be aware of concerning Void Dispositions, Validation Orders and Change of Position Defence. As an insolvency practitioner, staying up-to-date with case law is essential to ensure your practice operates within the legal framework and delivers the best outcomes for your clients. So, take the time to read the case summary, understand the implications, and sharpen your expertise to stay ahead.

#insolvency law. The priority of insolvency law reform often suffers because of the lack of concrete data by which its efficiency and effectiveness can be measured and sold. That may be one reason why no response has been given by government to the July 2023 PJC Report. But it is not all up to government.

Australia has suggested at a meeting in Vienna this week - 16-20 December 2024 - of UNCITRAL’s Working Group V (Insolvency Law) that there be an update of the Guide to Enactment and Interpretation of the UNCITRAL Model Law on Cross-Border Insolvency, which Australia adopted in 2008. This is in the context of Australia not having adopted UNCITRAL’s 2019 Model Law on Enterprise Group Insolvency nor its 2018 Model Law on the Recognition and Enforcement of Insolvency Related Judgments.   Perhaps of greater relevance to law reform is the UNCITRAL Legislative Guide on Insolvency Law of 2004 and in particular the Guide to insolvency law for micro and small enterprises, of 2021, which would/will be invaluable in any comprehensive review of insolvency law as recommended by the 2023 PJC Report, to which the government is still yet to respond. #insolvency