An interesting question has arisen under the Insolvency and Bankruptcy Code, 2016 (IBC) as to whether avoidance applications filed by a resolution professional to avoid vulnerable transactions can survive after the successful conclusion of the resolution process.
By Anoop Rawat and Ahkam Khan, Shardul Amarchand Mangaldas & Co
The Insolvency and Bankruptcy Code, 2016 incorporated the best practices across jurisdictions, and group insolvency was to be introduced in a phased manner
By Shardul Shroff and Shreya Prakash, Shardul Amarchand Mangaldas & Co
On 30 September 2021, the Insolvency and Bankruptcy Board of India (IBBI) issued amendments to the IBBI (Insolvency Resolution Process for Corporate Persons) (Third Amendment) Regulations, 2021
In spite of the strong emphasis in IBC regarding time-bound implementation, there have been several challenges that have mired timely implementation of resolution plans
By Soummo Biswas and Shivani Sinha, Shardul Amarchand Mangaldas & Co
Guarantors, whether personal or corporate, have an intrinsic relationship with the corporate debtor in their capacities as directors, promoters, associates, subsidiaries or holding companies.
Various laws still contain gaps and ambiguities, and reconciliation with the provisions of the Insolvency and Bankruptcy Code, 2016 becomes a challenging task. It is essential to create synergies among specific regulatory laws with the provisions and the process envisaged under the code
By Misha and Shreya Prakash, Shardul Amarchand Mangaldas & Co
It remains to be seen if a modified version of the insolvency resolution process under the IBC will suffice in these vastly changed macro-economic conditions, or if the government will need to offer a new model for insolvency resolution
By Misha and Vaijayant Paliwal, Shardul Amarchand Mangaldas & Co
The ongoing COVID-19 pandemic has dealt a crushing blow to the world economy, and has placed businesses in almost all jurisdictions under severe financial strain