CIRP - priority of distribution of assets in liquidation - ...

Case Laws Insolvency and Bankruptcy

December 28, 2022

CIRP - priority of distribution of assets in liquidation - liquidation proceedings - the financial debts owed to unsecured creditors have to be distributed by the liquidator as per the preference set out under Section 53(1) of Insolvency and Bankruptcy Code, 2016 i.e after distributing the workmen dues, wages and unpaid dues to the employees - HC

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CIRP - priority of distribution of assets in liquidation - ...

Case Laws Insolvency and Bankruptcy

December 28, 2022

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Section 53(1) of the Insolvency and Bankruptcy Code (IBC) provides for the order of priority in the distribution of liquidation assets. Financial debts owed to unsecured...

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