SC Upholds IBC Provisions on Insolvency of Personal Guarantors; Big Victory for – News18

Bankruptcy

Supreme Court on Friday upheld provisions of the Insolvency and Bankruptcy Code (IBC) allowing lenders to pursue insolvency proceedings against promoter guarantors of companies facing Corporate Insolvency Resolution Process. Abench of Justices L Nageswara Rao and Ravindra Bhat delivered the judgement.The ruling would allow banks to file personal bankruptcies against guarantors, even when the insolvency…

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Jaypee insolvency case: Creditors’ panel approves Suraksha Group’s offer; rejects NBCC bid – Mint

Liquidation

The sources said NBCC’s bid was found to be non-compliant with certain provisions of the insolvency law. On Wednesday, construction firm NBCC and Suraksha group submitted their final resolution plans to acquire Jaypee Infratech Ltd (JIL) in the fourth round of corporate insolvency resolution process. The sources said that a virtual meeting of the Committee…

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UK: Ability to Disqualify Directors of Dissolved Companies – The National Law Review

Bankruptcy

Thursday, May 20, 2021 On 12 May 2021, the UK Government introduced the snappily titled Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Bill. As the title of the bill suggests, it seeks to amend the applicability of the directors disqualification regime to directors of dissolved companies. A summary of the current regime is summarised inthisnote…

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Bill providing court protection to borrowers in mortgage arrears clears Oireachtas – Irish Legal News

Bankruptcy

Published 20 May 2021 Borrowers falling into home mortgage arrears due to an unforeseeable loss of income will gain court protection under new legislation which has cleared the Oireachtas. The Personal Insolvency (Amendment) Bill 2020, which will now be signed into law, gives insolvent homeowners the right to seek review by a court if their…

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Idris Elba Wanting Debt Relief for Low-Income Countries – BORGEN – Borgen Project

Debt Help

MINNEOLA, Florida British actor Idris Elba was one of the celebrities who tested positive for COVID-19 back in March of 2020. His wife, Sabrina Dhowre Elba, also tested positive.Inan interviewwithRadio Times, Elba confirmed that he remained asymptomatic and didnt get the major symptoms everyone else got. However, he did discuss the mental health issues that…

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New study: Critical to rethinking risk, resilience, and debt relief – The Lutheran World Federation

Debt Help

Launch of study Climate change, debt, and COVID-19 (LWI) – A new study titled Climate change, Debt and COVID-19, analyzes a vicious cycle: climate change and COVID-19 are producing massive costs, exacerbating debt in the poorest countries. The study indicates that due to the lack of funds to invest in improved resilience, future crises will…

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