Implementation of Resolution Plan - The mandate is very clear ...

Only creditors, members, or partners can seek to void transactions in corporate debtor cases. Others lack standing.

November 25, 2021

Case Laws Insolvency and Bankruptcy Tri

Implementation of Resolution Plan - The mandate is very clear that only a "creditor, member or a partner" of the corporate debtor can make an application to the Adjudicating Authority to declare such transactions as void and reverse their effect. The applicant not being a creditor or partner of the corporate debtor is not competent to raise the issue nor can seek a direction to respondent No. 3 concerning the matter. - Tri

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Implementation of Resolution Plan - The mandate is very clear ...

Only creditors, members, or partners can seek to void transactions in corporate debtor cases. Others lack standing.

November 25, 2021

Case Laws Insolvency and Bankruptcy Tri

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