German Insolvency Law – Overview of Insolvency Challenge Rights Um die Insolvenzmasse zu erhöhen, ermöglicht das Insolvenzanfechtungsrecht dem Insolvenzverwalter, unter bestimmten Voraussetzungen auf Werte zuzugreifen, derer sich der Schuldner vor der Stellung des Antrags auf Eröffnung des Insolvenz-verfahrens zu Lasten einzelner oder aller Gläubiger entäuß ert hat. Cross-border insolvency (EU rules) Insolvency cases involving companies or entrepreneurs with activities, assets or affairs in several countries can be resolved under EU law – specifically Regulation 2015/848 (see here for a summary of how it works). This bulletin summarizes the core issues of importance in each case and provides status updates on the cases reported on in our January 2020 bulletin, Key Developments in Canadian Insolvency Case Law in 2019. 24 March 2021 7:15 AM GMT. More information of case laws are visible to the Subscriber of a package i.e:-Party Name, Court Name, Date of Decision, Full Text of Headnote & Decision etc. 1st January, 2021 1. UAE Cabinet issued the Insolvency Law on 29th August, 2019, and came into effect in January 2020, which provides sufficient protection to defaulters and creditors.. How can UAE Insolvency Law benefit defaulters and creditors. Turkey. Park J. Issue: At what point should costs of sequestration be calculated to comply with the requirements that must be able to cover costs of sequestration? But a case involving Jet Airways represents an interesting attempt by judges in India to read the model law structure into the insolvency code framework . Edelweiss Asset Reconstruction Co. Ltd. v Synergies Dooray Automotive Ltd. & Ors. Date and place of adoption: September 10, 2015 in Grand-Bassam (Côte d’Ivoire) Date of publication in the OHADA Official Gazette: September 25, 2015 Entry into force: December 24, 2015 The Council of Ministers of the Organization for the Harmonization of Business Law in Africa (OHADA), Insolvency Law In Review - December 2020 . Bellatrix Exploration Ltd. (Action No. 2021 (4) TMI 253 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , NEW DELHI. insolvency laws by and large have not kept pace with the trend, and they are often ill-equipped to deal with cases of a cross-border nature. I&B Code; Regulations; Rules; Circulars; Guidelines; Cases. Showing 1 to 20 of 3818 Records. India’s Largest Knowledge Base on IBC; About IBC; Regulatory Framework. Insolvency Laws; UNCITRAL Model Law on Cross Border Insolvency; US Bankruptcy Code; World Bank Principles for Effective Insolvency and Creditor Rights; ADB principles of Corporate Rescue and Rehabilitation; Enabling provisions for cross border transactions under IBC, Agreements with foreign countries. 1st January, 2021 Jet was admitted to corporate insolvency resolution proceedings by the National Company Law Tribunal (NCLT) on 20 June 2019, with the lenders' consortium led by State Bank of India. The practitioners of Insolvency Law would have come across situations where the corporate debtor in a CIRP does not have assets for insolvency resolution in a meaningful way, but there would be holding companies or associate or subsidiary companies of the same group who have good assets. A complete list of prescribed case summaries for ease of study. Case Citation: [2018] ibclaw.in 102 NCLAT Facts of the Case The CIRP was initiated against Synergies-Dooray Automotive… Read More NCLAT Cases – Limited Insolvency Examination w.e.f. Siddharth Sunil, Akshata Singh, Karan Sangani and Soham C . It is baggy and continues to grow by the day as different parties file motion and after motion. IN RE CONTINENTAL ASSURANCE COMPANY OF LONDON PLC. IBC Cases. The key provisions of insolvency laws in the UAE are comprised within Federal Law No. The following legal case involves the interpretation of facts to see if they fitted the definition of wringful trading. The instant insolvency cause is a stark reminder of Jarndyce v Jarndyce. 13. Cross-border debt recovery . Ex parte Henning 1981. Ltd … Insolvency Law in Review – February 2021 . A further possibility suggested by case law is to provide for a transfer of the full rights subject to a condition precedent, such as the termination of the contract because the licensee cannot reasonably be expected to continue the agreement. 18 of 1993 (“Commercial Code”), which governs bankruptcy proceedings, and Federal Law No. The case has interminable legal proceedings with different claims and motions roped in the same proceedings. 2 of 2015 (“Companies Law”), which governs liquidation proceedings. Forms referred to in Regulation 2015/848. ICLG - Restructuring & Insolvency Laws & Regulations - Indonesia covers common issues in restructuring and insolvency, including issues that arise when a company is in financial difficulties, restructuring options, insolvency procedures, tax, employees, cross-border issues in 27 jurisdictions MRL3701 Insolvency Law Cases. 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