Distribution of liquidation proceedings - waterfall mechanism - ...

Liquidation Ordered Under IBC Section 33(1) After CIRP Failure; Petition Filed for Profit Distribution Among Employees and Shareholders.

September 1, 2022

Case Laws Insolvency and Bankruptcy AT

Distribution of liquidation proceedings - waterfall mechanism - After CIRP since it failed, liquidation order was passed by the Adjudicating Authority on an application filed by the Liquidator under Section 33(1) of the IBC. Once corporate debtor went into liquidation and the petition for distribution of accumulated profit was filed wherein representatives of employees as well as representatives of shareholders were arrayed as party there was no reason for third person to file the present appeal. - AT

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Distribution of liquidation proceedings - waterfall mechanism - ...

Liquidation Ordered Under IBC Section 33(1) After CIRP Failure; Petition Filed for Profit Distribution Among Employees and Shareholders.

September 1, 2022

Case Laws Insolvency and Bankruptcy AT

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