#Insolvency Law

[elladastinkardiamou]

This week's newsletter from AthensLive is out:

* The Greeks & the “Sultan”   

* Another law in favour of funds and servicers

* A policeman was seriously injured and in a coma - 400 arrested 

An important step towards the rapprochement between Greece and Turkey had been taken this week. Turkish President Erdogan visited Athens - and the two countries signed some 15 agreements. The ‘Sultan’ is admittedly unpredictable, yet this was a positive moment. Apart from the Greek FM caught on camera to… bow. 

A new law regarding ‘bad loans’ was passed this week. Despite mainstream media presenting it as favorable for debtors, it seems to give even more reasons to funds and servicers to prepare for a bigger party.

A policeman was severely injured and remains in a coma after an attack outside a venue where a volleyball game was taking place. It has been related to sports violence, yet the motives remain unclear. The police took some… 400 people to the station as a result. This reminded us of how the police don't always react to violence the same way.   

Read and share this week's updates on the events and developments in Greece here: https://steadyhq.com/en/athenslivegr/posts/88a3f41f-725b-4e2b-aedc-b0137d6256e8

For anyone with a wish or need to follow and to gain an insight into recent events in Greece and to read and support independent and investigative journalism in English, the weekly newsletter from AthensLive should be a core element in the reading flow.

If you want the best overview of the events and developments in Greece right now, this is the place to go. Not the mainstream Greek news, but independent journalism with sharp analysis and links to interesting and important topics from a variety of sources.

Become a member and get the newsletter in your inbox every week here:

https://steadyhq.com/en/athenslivegr/newsletter/sign_up

[lexlawuk]

Companies Winding Up Cause List (20 November 2024)

ROLLS BUILDING BEFORE INSOLVENCY AND COMPANIES COURT JUDGE MULLEN List updated: 19 November 2024 1:17pm JudgeTimeVenueTypeCase  numberCase nameInsolvency and Companies Court   Judge Mullen 10:30amRolls Building, Court 17Winding up petitionCR-2023-004458 A v BInsolvency and Companies Court   Judge Mullen 10:30amRolls Building, Court 17Winding up petitionCR-2024-000436 Leaserise…

[acquisory]

Insolvency and Bankruptcy Code 2016 – Role of Professionals under the Code

The Bankruptcy Code (“Code”) has revamped the bankruptcy and insolvency laws in India. The code was introduced with the primary objective of increasing lender’s confidence and facilitating expansion of the credit market in India. The main objective of the new law is to promote entrepreneurship, availability of credit and balance the interests of all stakeholders by consolidating and amending the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner and for maximization of value of assets of such persons, partnership firms and individuals in time bound manner and for maximization of value of assets of such persons and matters connected therewith or incidental thereto.

The Bankruptcy code is a unified and comprehensive piece of legislation for the resolution of insolvency in respect of Companies, limited liability partnerships, partnership firms and individuals. The code creates a new institutional framework which consists of adjudicatory bodies, a regulator, Insolvency professionals and information utilities. Most importantly it offers an exit plan to all categories of persons — Corporates, Stakeholders, Individuals and Partnership firms, apart from over hauling century old legal framework.

The code offers a market determined, time bound mechanism for orderly resolution of insolvency, wherever possible, and orderly exit, wherever required. It envisages an ecosystem comprising National Company Law Appellate Tribunal (NCLAT), National Company Law Tribunal (NCLT), Debt Recovery Appellate Tribunal (DRAT), Debt Recovery Tribunal (DRT), Insolvency and Bankruptcy Board of India (Board), Information Utilities (IUs), Insolvency Professionals (IPs), Insolvency Professional Agencies (IPAs) and Insolvency Professional Entities (IPEs) for implementation of the code relating to corporate insolvency resolution and liquidation.

Background:

The entire insolvency and bankruptcy process under the code is managed by regulated and licensed professionals, namely the Insolvency Professional (IP), duly appointed by adjudicator. Insolvency Professional is appointed to conduct insolvency resolution process in accordance with the procedure laid down in the code. He is professional endowed with specialized knowledge, training and recognized by Insolvency Professional Agency and Insolvency and Bankruptcy Board of India for undertaking insolvency proceedings. The IPs are registered and regulated by the Board. They play a critical role in transactions under the code.

In administering the resolution outcomes, the role of the IP encompasses a wide range of functions, which includes adhering to the procedures of law as well as accounting and finance related functions. Insolvency process under the Code starts with a Financial Creditor, operational creditor or corporate applicant as the case may be who makes an application to the Adjudicating Authority (AA) about the debt default by the Corporate together with the name of IP who has consented to act as an interim IP. If no reference is made to the Board about the name of IP, AA makes reference to the Board. A financial creditor is a person to whom a financial debt is owed including any assignee thereof arising out of financial debt together with interest which is disbursed against consideration for the value of money borrowed etc. Operational debtor refers to an operational debt in respect of provision of goods and services including employment, repayment of dues to the Govt. authorities or any local authority. In performing these tasks, an IP acts as an agent of the adjudicator depends on the specialized skills and expertise of the IP to carry out these tasks in an efficient and professional manner.

The role of IPs is thus vital to the efficient operation of the Insolvency Professional Resolution. A well-functioning system of resolution driven by IPs enable the adjudicator to delegate more and more powers and duties to the professionals. This creates a positive externality of better utilization of judicial time.

Registration of Insolvency Professionals:

Regulation 13 of IBBI (Model Bye-law & Governing Board etc.) Regulations, 2016 provides that no person is allowed to render service as an IP except as a member of the Insolvency Professional Agency. Such member is also required to register with the Board. The three…

Read more: https://www.acquisory.com/ArticleDetails/36/Insolvency-and-Bankruptcy-Code-2016-%E2%80%93-Role-of-Professionals-under-the-Code

[edictumlaw]

Navigating Complex Financial Waters: Bankruptcy and Insolvency Law at Edictum Law and Co

Financial distress can be a challenging phase for any business or individual. At Edictum Law and Co, our team of adept bankruptcy and insolvency lawyers in Delhi specializes in guiding clients through the intricate legal landscapes governed by the Insolvency and Bankruptcy Board of India (IBBI).

Understanding Bankruptcy and Insolvency

Bankruptcy and insolvency proceedings are critical tools for restructuring financial obligations when businesses or individuals cannot meet their debt obligations. Here’s how our experts at Edictum Law and Co can help:

Strategic Assessment: We evaluate your financial situation to provide tailored advice, whether it involves reorganizing your business or liquidating assets to pay creditors.

Navigating IBBI Regulations: Our attorneys have in-depth knowledge of the IBBI guidelines and work tirelessly to ensure compliance while seeking the most favorable outcomes.

Representation in Proceedings: From filing the case to representing clients in negotiations and court proceedings, our lawyers are dedicated to your side every step of the way.

Expertise in Insolvency and Bankruptcy Law

Our legal team is experienced in handling a wide array of cases under the insolvency and bankruptcy framework, including:

Corporate Insolvency Resolution Process (CIRP): We assist corporations in navigating the CIRP, ensuring efficient dealings with creditors and maximizing the chances to revive the business.

Personal Bankruptcy: For individuals facing insurmountable debt, we provide compassionate and competent legal representation to explore all available options for relief.

Cross-Border Insolvency: The complexities of cross-border insolvency require sophisticated legal strategies, which our seasoned attorneys are well-equipped to handle.

Why Choose Edictum Law and Co?

Selecting the right legal partner in bankruptcy and insolvency matters is crucial. Here are a few reasons why clients choose Edictum Law and Co:

Proven Expertise: Our attorneys are well-versed in the latest developments and case laws related to bankruptcy and insolvency.

Personalized Attention: We understand the stress involved in financial distress and offer personalized services to ease our clients through the process.

Result-Oriented Strategies: Our track record of successful resolutions attests to our commitment to achieving the best possible outcomes for our clients.

Get Expert Legal Help Today

If you’re facing financial challenges or need advice on insolvency and bankruptcy matters, don’t hesitate to reach out to Edictum Law and Co. For more information or to schedule a consultation, visit our website at Edictum Law and Co or contact us directly. Let our experts help you navigate through these challenging times with confidence and legal excellence.

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Real Estate Legal Experts

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[hhslawyers]

From Debt to Recovery - Dubai's Top Tips for Personal Insolvency Solutions

[legally-information]

Difference between Insolvency & Bankruptcy in India In recent years, discussions surrounding insolvency and bankruptcy have gained prominence in India, particularly with the introduction of the Insolvency and Bankruptcy Code (IBC) in 2016.

[black-rabbit-razumikhin]

you know you're in deep when you're taking out textbooks from the library for fun

[ccalegalfirm]

Understanding the Role of Habeas Corpus in Safeguarding Individual Liberties

"To have the collection of" is the importance of the Latin expression "Habeas Corpus." Utilizing this writ, one can forestall uncalled-for confinement and maintain the principal right to individual freedom. An individual who has captured one more is expected by the High Court to create the last option's body under the steady gaze of the court through the Habeas Corpus process.

The writ of habeas corpus was first presented in Quite a while in 1773, when High Courts were laid out for every one of the Administrations of Bengal, Bombay and Madras.

Introduction: The legal concept of habeas corpus has been essential in protecting personal freedom and averting needless imprisonment. This well-established idea, which originated in Britain, is today the basis for many basic legal frameworks worldwide. This essay will examine the definition of habeas corpus, its evolution over time, and its importance in preserving law and order and fundamental rights.

Understanding Habeas Corpus: Habeas corpus, a Latin term meaning "you shall have the body," is a legal mechanism that allows individuals who are detained or imprisoned to challenge the legality of their confinement. It provides a way for individuals to seek relief from unlawful imprisonment and serves as a check against arbitrary or unjust detentions. Through the writ of habeas corpus, a person can request that a court examine the reasons and legality of their detention and determine if it is lawful and justified.

Historical Development: The roots of habeas corpus can be traced back to medieval England, where it emerged to prevent unlawful and indefinite detentions by the monarch or those acting under their authority. Over the centuries, its importance and scope expanded, with various landmark cases and legal developments shaping its application.

A significant accomplishment in the historical context of habeas corpus is the British Habeas Corpus Demonstration of 1679. By laying out and systematizing the ability to approach a court, this regulation ensured that individuals who were being held illegally had a legal path to freedom. People were given a crucial safeguard against capricious detention by the demonstration, which outlined procedural guarantees and described the interaction for granting the writ.

Significance and Importance: The meaning of habeas corpus lies in its capacity to safeguard individual freedoms and forestall maltreatments of force by the state. Its significance can be grasped through the accompanying perspectives:

Checks Government Power: Habeas corpus places a check on the power of the executive branch by subjecting detentions to judicial scrutiny. It ensures that the government is held accountable and provides a legal mechanism to prevent unlawful arrests or detentions.

Upholds Due Process: The writ of habeas corpus guarantees the option to fair treatment, as people can challenge the authenticity of their detainment and the proof against them in an official courtroom. It encourages reasonableness and forestalls erratic or delayed detainment without preliminary.

Promotes Human Rights: Habeas corpus is a critical tool in safeguarding human rights. It protects against torture, inhumane treatment, and allows individuals to challenge unlawful activities that infringe upon their fundamental rights and freedoms.

Preserves the Rule of Law: Habeas corpus is a fundamental part of an equitable and vote based society. It guarantees that law and order wins and that nobody is denied of their freedom without legal avocation.

Conclusion: The overall body of laws continues to be based on habeas corpus, which protects individual liberties and acts as a barrier against capricious detentions. Its verified course and significant progression validate its crucial role in upholding law and order and defending fundamental liberties. The essence of justice, accountability, and equity is embodied in habeas corpus, which ensures that no one can be denied a chance without a good reason. Maintaining an egalitarian, majority rule society that values personal freedoms and opportunities requires its robust defense and implementation.

Content Source - Understanding the Role of Habeas Corpus in Safeguarding Individual Liberties

[arohanalegal]

A Guide to Corporate Insolvency Law in India- Arohana Legal

Dive into the intricacies of corporate insolvency law in India with Arohana Legal's comprehensive guide, 'A Guide to Corporate Insolvency Law in India.' Our expert legal team provides insightful perspectives and strategic counsel, unraveling the complexities of insolvency laws tailored for the Indian business landscape. Navigate financial challenges with confidence, understanding the legal safeguards and strategic solutions offered by Arohana Legal. Whether you are a corporate entity or a stakeholder, trust our expertise to guide you through the nuances of insolvency laws, ensuring a resilient and informed approach to corporate challenges in India. https://arohanalegal.com/practice-area/capital-restructuring/

[harishjain]

Insolvency lawyers in India

Harish Jain and his team of insolvency lawyers in India are renowned for their adept handling of complex financial restructuring and insolvency cases. Their in-depth knowledge of Indian insolvency laws and their commitment to protecting creditors and debtors alike make them a trusted resource in navigating challenging financial situations.

[vardilaw]

For many years, our firm has been ranked among the leading law firms in the field of insolvency, including liquidation procedures, bankruptcies and receiverships of both individuals and companies. Adv. Avihai Vardi is appointed from time to time by the various courts as an official in various fields, including in the field of rehabilitation and rehabilitation of companies and individuals

[lexlawuk]

Companies Winding Up Cause List (13 November 2024)

ROLLS BUILDING BEFORE INSOLVENCY AND COMPANIES COURT JUDGE BURTON List updated: 12 November 2024 1:05pm udgeTimeVenueTypeCase numberCase nameInsolvency and Companies Court Judge Burton10:30amRolls Building, court 5Winding up petitionCR-2024-000651A v BInsolvency and Companies Court Judge Burton10:30amRolls Building, court 5Winding up petitionCR-2024-000978Labyrinth Venues LimitedInsolvency and…

[edictumlaw]

Navigating Insolvency and Bankruptcy with Edictum Law & Co

In the intricate legal landscape of insolvency and bankruptcy in India, Edictum Law & Co shines as a guiding light. With expertise in navigating the complexities of these processes, the firm is committed to providing comprehensive solutions and expert guidance to clients.

Understanding the Insolvency and Bankruptcy Board of India (IBBI):

The Insolvency and Bankruptcy Board of India (IBBI) plays a crucial role in regulating insolvency and bankruptcy proceedings in India. Edictum Law & Co understands the significance of adhering to IBBI regulations and utilizes its knowledge to guide clients through the process.

Role of a Bankruptcy and Insolvency Lawyer:

A bankruptcy and insolvency lawyer is instrumental in providing legal counsel and representation to individuals and businesses facing financial distress. Edictum Law & Co's team of experienced lawyers specializes in this field, offering strategic advice and advocating for clients' interests.

Edictum Law & Co's Expertise:

With a deep understanding of insolvency and bankruptcy laws, Edictum Law & Co provides tailored solutions to clients' unique situations. From initial consultation to representing clients in legal proceedings, the firm ensures that clients receive personalized attention and effective representation.

Comprehensive Legal Solutions:

Edictum Law & Co offers a wide range of legal services related to insolvency and bankruptcy, including debt restructuring, negotiations with creditors, and representation in bankruptcy proceedings. The firm's goal is to provide clients with comprehensive solutions that address their financial challenges.

Conclusion:

Navigating insolvency and bankruptcy requires expertise and strategic guidance. With Edictum Law & Co by your side, you can navigate these complex legal processes with confidence. Trust in their knowledge, experience, and commitment to excellence to guide you through challenging times.

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