Insolvency and Restructuring
November 1, 2018

INDIA’S SUPREME COURT ALLOWS DISQUALIFIED RESOLUTION APPLICANTS TO CURE INELIGIBILITY

Under India’s Insolvency and Bankruptcy Code, 2016 (the “Code”), a potential bidder (who has been party to or caused the...

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Insolvency and Restructuring
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September 27, 2018

India – Insolvency Law Update

Introduction  In a recent judgment in the case of K. Kishan v. Vijay Nirman Company Pvt. Ltd., India’s Supreme Court...

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Insolvency and Restructuring
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August 2, 2017

INDIA – INSOLVENCY LAW UPDATE – SUPREME COURT ORDER MAY PAVE THE WAY FOR OUT-OF-COURT SETTLEMENTS

The Indian government enacted the Insolvency and Bankruptcy Code, 2016 (the “ Code”) to consolidate the law on insolvency in India, and provide an effective and timebound mechanism for recovering debts due to both, financial as well as operational creditors. The provisions of the Code are being tested in Indian courts, and an important ruling has been passed by India’s Supreme Court (the “Court”) on out-of-court settlements between parties following the commencement of insolvency proceedings.

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Insolvency and Restructuring
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July 26, 2017

INDIA – INSOLVENCY LAW UPDATE – ACTION AGAINST ESSAR STEEL UPHELD

With the aim of having a robust and efficient insolvency process and to remedy the appalling credit default situation in India, the Indian government enacted the Insolvency and Bankruptcy Code, 2016 (the “ Code”). The Code introduced sweeping reforms by consolidating the law on insolvency in India, and providing an effective and time bound mechanism for recovering debts due to both, financial as well as operational creditors.

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Insolvency and Restructuring
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June 10, 2016

INDIA’S NEW INSOLVENCY CODE – IS IT A GAME CHANGER OR A RUN-OF-THE-MILL REFORM?

Background – The need for a new law The Indian legal framework for insolvency resolution, debt recovery and restructuring of...

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Insolvency and Restructuring
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July 10, 2015

BORROWERS BEWARE – BANKS CAN NOW TAKE OVER COMPANIES TO RECOVER THEIR DEBT

Introduction To address various issues surrounding distressed assets in the banking system, on February 26, 2014, the Reserve Bank of...

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Banking and Finance, Insolvency and Restructuring
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