The Insolvency and Bankruptcy Code (IBC) was enacted to ensure a cultural transformation in the insolvency and bankruptcy landscape. It established a new architecture for insolvency resolution and liquidation. Strict timelines were introduced and a code for judicial restraint was built into the law at every step of the process. It also established the Insolvency…
In its annual list of Asias Top Offshore Litigators, ALB highlights top disputes practitioners working with offshore law firms, who have successfully handled significant cases and exceeded client expectations in the process. The full list is in alphabetical order, and a few lawyers have been profiled here. JOANNE COLLETTWalkers STUART DADDONAWalkers AISLING DWYERMaples Group ROBERT…
Mumbai, Aug 30: Aashit Shah, Partner, J Sagar Associates, has said that infrastructure regulators and Securities and Exchange Board of India (SEBI) would need to work in tandem for a successful insolvency resolution of an INvit which may involve a change in the sponsor, investment manager or trustee or transfer of an infrastructure asset. In…
In a bid to increase transparency in the liquidation process under the Insolvency and Bankruptcy Code (IBC), IBBI has proposed amendments to the regulations TopicsIBBI|IBC|liquidation IANS | New Delhi Last Updated at August 30, 2021 13:30 IST In a bid to increase transperancy in the liquidation process under the Insolvency and Bankruptcy Code (IBC), IBBI…
Mumbai, Aug 30 (UNI) Aashit Shah, Partner, J Sagar Associates, has said that infrastructure regulators and Securities and Exchange Board of India (SEBI) would need to work in tandem for a successful insolvency resolution of an INvit which may involve a change in the sponsor, investment manager or trustee or transfer of an infrastructure asset.…
MUMBAI: The Insolvency and Bankruptcy Board of India (IBBI) has proposed major changes in the insolvency process to bring more discipline and transparency and to address issues that have come up in recent cases.The IBBI, which regulates both insolvency professionals and the process, has sought public views on amendments by September 17.A key development is…
Insolvency regulator IBBI has come up with a discussion paper on Code of Conduct for the Committee of Creditors (CoC), which is the custodian of public trust during resolution process. The proposed Code of Conduct, which establishes broad principles that can be applied to every situation, is expected to elevate accountability and responsibility of Committee…
It also suggested that a professional code of conduct for the CoC be put in place, which would define and circumscribe their decisions, as these have larger implications for the efficacy of the Code. The erosion of value of stressed firms before the initiation of the corporate insolvency resolution process (CIRP) is a matter of…
The Ministry of Corporate Affairs (MCA) is working to issue a code of conduct for creditors under the Insolvency and Bankruptcy Code (IBC), said MCA Secretary Rajesh Verma on Friday. This comes a month after a Parliamentary panel flagged the disproportionately large and unsustainable haircuts taken by the financial creditors over the years. In some…
The corporate affairs ministry is working with the finance ministry, Reserve Bank of India and the Indian Banks’ Association (IBA) on the issue of the conduct of the committee of creditors under the insolvency resolution process, a senior official said on Friday. The role of Committee of Creditors (CoC) is crucial in deciding a resolution…