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SECURED CREDITORS PRIORITY
Fix the ABC of IBC: Why we should re-engineer the bankruptcy code furtherThe recent litigation around Jaypee has once again unleashed a raging debate over arbitrary decision-making by financial creditors, lack of...- Government operationalises amended insolvency law, sets 14-day admission deadline for NCLTOn May 26, significant updates to the insolvency law took effect, geared towards hastening the resolution of companies facing bankruptcy. T...
- IBC study calls for auction reform to boost MSME insolvency resolutionA new study suggests changes to how bankrupt micro, small, and medium enterprises are rescued. It proposes a single objective auction model...
- You could lose Social Security over these 3 surprising mistakes — check nowUp to 85% of Social Security benefits can be taxed in 2026. Many retirees still don’t know this rule. Social Security benefits are not alwa...
- Banks take backseat: Bombay High Court upholds PMLA supremacy in asset recoveryBanks in India face a significant ruling from the Bombay High Court. The court declared that anti-money laundering laws take precedence ove...
- IBC amendment seeks to end legal confusion and discretionary powerRecent Supreme Court judgments have prompted amendments to India's Insolvency and Bankruptcy Code (IBC). The proposed changes, now before a...
- SBI seeks review of SC ruling denying secured creditors priority over attached assetsThe State Bank of India has filed a review petition against the Supreme Court’s May 15 ruling, which held that secured creditors cannot cla...
- In setback for lenders, Supreme Court dismisses pleas over govt dues under IBCIn a setback for creditors, including State Bank of India and Indian Overseas Bank, the Supreme Court dismissed their petitions seeking a r...
- No priority for worker dues after liquidation under IBC"The waterfall mechanism is based on a structured mathematical formula, and the hierarchy is created in terms of payment of debts in order ...
- Banks seek review of SC order tagging statutory creditors as 'Secured' onesIn its September 6 order, the top court ruled that any insolvency resolution plan, approved by the financial creditors by ignoring the stat...
- IBC: There's a need to bring necessary balance in the CoC’s compositionIn the overall IBC scheme of insolvency resolution, the CoC has a pivotal role. The robustness of the resolution plan hinges upon the integ...
- Change in Sarfaesi Act to give priority to secured creditorsSarfaesi Act was framed to identify and rectify the problem of non-performing assets.
- L&T terms Bhushan's resolution plan as discriminatory against operational creditorsL&T claimed it to be an "operational secured creditor" of Bhushan Steel as it has also contributed into the company by providing plants and...
- SMEs' claims may get higher priority in liquidation casesThis comes after representations that small and medium enterprises (SMEs), which are suppliers of goods or services to a defaulting company...
- Creditors' dues find precedence over tax recovery in insolvency billTax experts laud the bill for providing a legal framework for timely resolution of insolvency disputes, which would reduce the level of dis...
- Workers' provident fund dues to get priority under company liquidationSC has ruled that workers' provident fund dues would get priority over payments to secured creditors when a company is liquidated
- EPF dues have priority over secured creditors’ debt: SCSC has ruled that from now on, recovery of EPF dues from a company under liquidation would get priority repaying loans.
- Wockhardt CDR plan may set precedent for debt recoveryTroubled pharma company Wockhardt’s corporate debt restructuring (CDR) plans that led to its overseas unsecured creditors taking the compan...
- The final word on secured lendingEffect of SC judgment is that claims of the state govt for arrears of sales tax and other taxes, if given statutory first charge over prope...
- Who gets the first right over dues?The Supreme Court has decided to examine the central excise department’s plea seeking its direction over precedence of its claim over secur...
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