doi:10.2139/ssrn.3270237Shivam GoelInsolvencyBankruptcyThe Limitation Act1963The Limitation Act, 1963 is applicable to applications filed under Sections 7 and 9 of the IBC from the inception of the IBC; Article 137 of the Limitation ActSocial Science Electronic Publishing...
This paper examines the potential impact of section 238 of the Insolvency Act 1986 on the validity of corporate guarantees, and offers a framework for determining when they are liable to be undone. Briefly, the test is whether the value of the guarantee is broadly equivalent to the value of ...
The definition of what will constitute a transaction at an undervalue is very similar to that contained in section 238(4) of the Insolvency Act 1986. As such, English authorities on the interpretation and application of this provision will likely be considered persuasive in cases that come before...
Bankruptcyundervalue transactionsThis paper examines the potential impact of section 238 of the Insolvency Act 1986 on the validity of corporate guarantees, and offers a framework for determiniSocial Science Electronic Publishing
Insolvency Act (IA) 1986 powers.If it appears that company directors, advisors or third parties with knowledge of the company's property are withholding information, an IP can consider relying on Section 236 of IA 1986 to seek to compel the individual to deliver company books, papers or other...
Section 122 Insolvency Act 1986 provides a number of distinct grounds for applying to have a company liquidated on a compulsory basis. Which of the following is NOT a ground for the compulsory liquidation of a company under that provision?
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[2020] EWCA Civ 687, handed down on 1 June 2020, has reiterated that section 234 of the Insolvency Act 1986 (“IA 1986”) provides only a summary procedure to assist insolvency office-holders in the exercise of their statutory duties. The Court made clear that section 234 IA 1986 does ...
In 2023, the Bankruptcy Venue Reform Act was introduced into Congress to limit “forum shopping” with respect to bankruptcy filings. The proposed legislation would generally restrict the venue options for a company’s bankruptcy filing to where its principal place of business or principal assets are...
section 59(2) of the Income Tax Act 1947, which states that the liquidator must not distribute any of the assets of the company to its shareholders unless he has made provision for the payment in full of any tax which may be found payable by the company. Under section 203(1)(i) of ...