Asia: Insolvency/Bankruptcy/Re-Structuring

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Article
NCLAT Clarifies that Accounting Set-Offs May Constitute Preferential Transactions under s. 43 of the IBC
The NCLAT examines whether accounting adjustments that extinguish a corporate debtor's receivables in favour of related parties constitute preferential transactions under the Insolvency and Bankruptcy Code. This ruling clarifies that actual fund transfer is not necessary for invoking avoidance provisions where such transactions result in the extinguishment of receivables, reinforcing the 'substance over form' doctrine in insolvency proceedings.
India Insolvency
MA
Metalegal Advocates
Article
Claim Admission Is Not Debt Acknowledgement: Supreme Court On RP’s Role & Limitation Under The IBC
The Supreme Court's ruling in Shankar Khandelwal v. Omkara Asset Reconstruction examines whether claim admission by resolution professionals during corporate insolvency proceedings constitutes acknowledgement of liability under the Limitation Act. The decision clarifies the institutional role of insolvency professionals and establishes critical boundaries between procedural claim-verification processes and substantive acknowledgements capable of extending limitation periods.
India Insolvency
MA
Metalegal Advocates
See more

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RI
Restructuring & Insolvency

Insolvency/Bankruptcy

Article
NCLAT Clarifies that Accounting Set-Offs May Constitute Preferential Transactions under s. 43 of the IBC
The NCLAT examines whether accounting adjustments that extinguish a corporate debtor's receivables in favour of related parties constitute preferential transactions under the Insolvency and Bankruptcy Code. This ruling clarifies that actual fund transfer is not necessary for invoking avoidance provisions where such transactions result in the extinguishment of receivables, reinforcing the 'substance over form' doctrine in insolvency proceedings.
India Insolvency
MA
Metalegal Advocates
Article
Claim Admission Is Not Debt Acknowledgement: Supreme Court On RP’s Role & Limitation Under The IBC
The Supreme Court's ruling in Shankar Khandelwal v. Omkara Asset Reconstruction examines whether claim admission by resolution professionals during corporate insolvency proceedings constitutes acknowledgement of liability under the Limitation Act. The decision clarifies the institutional role of insolvency professionals and establishes critical boundaries between procedural claim-verification processes and substantive acknowledgements capable of extending limitation periods.
India Insolvency
MA
Metalegal Advocates
See more

Financial Restructuring

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