CIRP - Home Buyers - Financial Creditors or not - scope of ...

Appellants Recognized as Financial Creditors u/s 5(8)(f) of IBC; Await Equal Treatment in Resolution Plan.

October 21, 2023

Case Laws Insolvency and Bankruptcy SC

CIRP - Home Buyers - Financial Creditors or not - scope of Financial Debt - The appellants are declared as financial creditors within the meaning of Section 5(8)(f) (Explanation) and entitled to be treated as such along with other home buyers/financial creditors for the purposes of the resolution plan which is awaiting final decision before the adjudicating authority. - SC

View Source

← Previous Next →

CIRP - Home Buyers - Financial Creditors or not - scope of ...

Appellants Recognized as Financial Creditors u/s 5(8)(f) of IBC; Await Equal Treatment in Resolution Plan.

October 21, 2023

Case Laws Insolvency and Bankruptcy SC

You may also like:

Removal of appellant from Committee of Creditors - Financial Creditors or not - the appellant was a collaborator in the development agreement and not a financial...

The Appellate Tribunal dismissed the Section 7 application filed by the Appellant, ruling that the share application money deposited by the Appellant with the Corporate...

Initiation of CIRP - The Appellant, who is a speculative investor, cannot claim status and benefits as financial creditor under Explanation (i) of Section 5(8)(f) of the...

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...

The Corporate Debtor denied the existence of a loan agreement with 12% interest, as claimed by the Financial Creditor in the Section 7 application. To qualify as a...

CIRP - Status of NOIDA authority - Financial Creditors or Operational Creditors - dues outstanding under the lease - , in the lease in question, there has been no...

Initiation of CIRP u/s 7 - financial debt in terms of IBC or not - The terms and conditions of the Agreement between the Appellant and the Respondent makes it clear that...

Initiation of CIRP - It is also an admitted fact that there are no documents/records to prove that the Appellant is a Financial Creditor. The Appellant stated that the...

CIRP process - security deposit and/or intercorporate deposit - Whether this ‘Security Deposit’ and the interest thereon would fall within the ambit of the definition of...

Financial Creditors or not - a person having only security interest over the assets of corporate debtor, even if falling within the description of 'secured creditor' by...

The NCLAT upheld the admission of the Section 7 application filed by the Financial Creditor (Respondent No.1) for initiating CIRP against the Corporate Debtor. It held...

This legal summary concerns the maintainability of a Section 7 application for initiating the Corporate Insolvency Resolution Process (CIRP) against a Corporate Debtor....

Initiation of CIRP - Financial creditor within the meaning of sub-section (7) of Section 5 of the IBC - The Supreme Court affirmed the NCLAT’s judgment, holding that the...

The provisions of IBC will prevail over the provision of Indian Contract Act, thereby surety may take appropriate steps to claim as creditor to recover the amount he...

Classification of a security deposit made by the appellant for a lease deed with the corporate debtor, as either a financial debt or an operational debt under the...

Quick Updates: