There is no retrospective relief for a company director's liability for insolvent trading, after the extension expires.
Coleman Greig Lawyers
To recover outstanding debts, creditors can still enforce claims against companies or individuals through the courts.
Directors must start planning now to avoid trading whilst insolvent when temporary relief ends on 31 December 2020.
The first article of an eight-part series on dealing with unfair preferences provides an overview of the basics.
You are invited to join our upcoming webinar on insolvency law reforms and the removal of the temporary "Safe Harbour".
The temporary protections do not alter a creditor's ability to seek and obtain a Court judgment for the payment of debts.
Corrs Chambers Westgarth
The companies were reinstated to allow proceedings against the liquidator of those companies for alleged breach of duty.
The legislation will amend Australia's insolvency framework to streamline the restructuring process for small business.
A recent case in Hong Kong, has demonstrated both the ability and willingness of common law courts to recognise insolvency appointments made by the courts of the People's Republic of China ('PRC')...
In an important decision passed recently , the National Company Law Appellate Tribunal ("NCLAT") while endorsing the decision of National Company Law Tribunal, New Delhi Bench ("NCLT")...
With the current economic slowdown triggered by COVID-19, businesses now face an uphill battle to generate free
cash flow to timely service their debts.
VGC Law Firm
Recently, the Appellate Authority (NCLAT) in the matter of Laxmi Pat Surana v. Union Bank of India & Ors. has held that an application under Insolvency and Bankruptcy Code, 2016 (‘I&B Code') is ...
The Insolvency and Bankruptcy Code (Second Amendment) Act, 2020...
S.S. Rana & Co. Advocates
In a recent case, the National Company Law Appellate Tribunal ("NCLAT"), vide its ruling dated May 22, 2020 upheld the order passed by respective National Company...
The judiciary has rendered numerous path-breaking decisions to
complement various amendments to the Insolvency and Bankruptcy
Singh & Associates
In the last few years, it has been noticed that the homebuyers struggle to get their decree executed as the orders of the Real Estate Regulatory Authority ("RERA") have not been executed.
India enacted the Insolvency and Bankruptcy Code, 2016 (IBC) to provide a new and an exclusive framework for reorganisation and insolvency resolution.