ZBA’s Post

The Supreme Court has declared the constitutionality of Sections 95 to 100 of the Insolvency and Bankruptcy Code (IBC). This decision reinforces the robustness of our insolvency laws, marking a crucial development for businesses and stakeholders alike. Dive into the details in our latest article: https://lnkd.in/ddRNRzNF #SupremeCourtVerdict #IBC #LegalNews #ConstitutionalValidity #InsolvencyLaw #indialawllp

The consistent emphasis by the judiciary on streamlining the concept of commercial wisdom of the Committee of Creditors (CoC) in insolvency proceedings is indeed re-visited and innovated at every instance wherein the Hon’ble Courts are deliberating on any such question of law. A similar interpretation was again brought along by the Hon’ble National Company Law Appellate Tribunal wherein the concept of judicial review on the decisions undertaken by the CoC was again reviewed while keeping in mind the ambit provided under the Code and its regulations. Even though the Hon’ble Courts, in a plethora of its judgements, have established the fact that the decisions of the CoC are not subjected to judicial review, it has been consistently reiterated that the Hon’ble Courts cannot sideline the CoC’s actions in case the same were tainted with material irregularity and arbitrariness. It is germane that balancing the outreach of the judicial interpretation viz-a-viz the legislative intent cannot undermine the purpose of enacting the law and provide a blanket on the actions undertaken by the CoC members during a resolution process. - Shravan Chandrashekhar, Senior Associate. https://lnkd.in/gPjgsCxe #legalinsights #legalupdates #nclat #ibc #insolvency #UKCAandPartners #ukca

It is a popular misconception that once the Court has ruled in your favour, and you have obtained judgment, the money owed to you will be paid by your opponent right away. In fact, there are many issues which may affect enforcement of a payment. https://lnkd.in/eNYXixbm #enforcingjudgments #litigation #Law #Litigationfunding

Changes in bankruptcy The State Duma passed in the third reading Bill No. 516699-8 “On Amending the Federal Law ‘On Insolvency (Bankruptcy)’ and the Arbitration Procedural Code of the Russian Federation (On Improving the Procedure for Consideration of Insolvency (Bankruptcy) Cases)”. Learn more about the changes: https://lnkd.in/gXSbiXPN

[Op Eds] Whom to Pay First: A Critical Analysis of the Position of Secured Creditors in the Current Regime by Govinda Asawa and Pranay Agarwal Read Full Article Here- https://lnkd.in/dUv46vSy #OpEd #CompaniesAct #EaseofDoingBusiness #InsolvencyLawCommittee #CurrentRegime #insolvencyandbankruptcycode #SARFAESIAct #securedcreditors #TransferofPropertyAct #scconline #SCC #legalnews #scconlineblog #legalknowledge #legalblog #legalupdates #lawstudent #legalresearch #legalstudies #surestwaytolegalresearch #bringingyouthebestlegalnews

If the agreement between a creditor and debtor refers disputes to arbitration, what limits should be placed on the creditor to pursue winding-up proceedings based on an unpaid debt under that agreement? Our latest article discusses here: https://whcs.law/3XQ8wFU #arbitration #disputes

Article: The Significance of Addressing Statutory Dues in Insolvency Resolution Plans – By Chidambaram Ramesh This article examines recent judicial pronouncements, elucidating the handling of statutory dues within insolvency resolution plans. The cases underscore the obligatory character of the resolution plan and, concurrently, highlight the imperative requirement for adherence to the extant statutory provisions. https://lnkd.in/gzpNXpSU

#BusinessLawToday | The court held requirements of § 109(a) of the Bankruptcy Code do not apply to foreign proceedings recognized under Chapter 15, creating a circuit split. Read: https://ow.ly/40Lw50Smvf3 Luigi Orengo, Jr., Carlton Fields #BankruptcyandFinance #BusinessLitigation #DisputeResolution #BusinessLaw

My colleagues Linc Rogers and Jake Harris have written about the recent review of substantive consolidation undertaken by the Manitoba Court in the Nygard proceedings and what it means more broadly for the doctrine of substantive consolidation in insolvency proceedings in Canada. #insolvency #blakesmeansbusiness

**Supreme Court Clarifies Jurisdiction for Insolvency and Bankruptcy Code Offenses** The Supreme Court recently provided much-needed clarity on the jurisdiction of courts handling offences under the Insolvency and Bankruptcy Code (IBC). The case centred around whether a Sessions Court Judge could preside over such cases. The Court ruled in favor of "legislation by incorporation." This means amendments made to the Companies Act after the IBC's formation wouldn't affect the IBC's special court provisions. Sessions Court Judges have the authority to preside over IBC offence cases. This decision clarifies the authority of special courts in IBC matters and highlights the significance of interpreting legislative intent when incorporating provisions from other laws. Read the article by NEVIL C. & Mandar Latpate: https://lnkd.in/dgSARs9s #InsolvencyandBankruptcyCode #IBC #Jurisdiction #SpecialCourt #LegislativeInterpretation #Legal