Why Embassy Property Developments is Impracticable and Has a Short Future
A critical analysis of the Supreme Court's recent judgement in the case of Embassy Property Developments.
Jaypee Infratech and the Meaning of the term “Financial Creditor”
The Supreme Court made a mistake.
Jaypee Infratech, the Supreme Court and a Matter of Preference
The insolvency of Jaypee Infratech Limited (JIL) is only eclipsed by Essar Steel in its contribution to insolvency law. The very definition of a financial debt, the cornerstone of the IBC, was amended to fulfil the needs of its homebuyers, mostly the hapless purchasers of JIL’s aptly-named, graveyard-like “Wish Town” [...]
The New Essar Steel Judgement – Of Old Wine and New Bottles
Reading about the new Essar Steel judgement in my morning newspaper, I was convinced that all was well. I was wrong.
The Essar Steel Story, Or Why the IBC Is Irredeemably Flawed
About time someone mentions the elephant in the room - the CoC truly sucks.
Two Judgments bring the Insolvency and Bankruptcy Board of India into focus
Two recent Supreme Court decisions shine a light on the IBBI and its proper function as a regulator.
New Developments on the IBC – Vindication Much?
Two news items that made me smile.
ArcelorMittal Part III – Of Choppers And Changes
The final part of my analysis of the Supreme Court's ArcelorMittal judgment, focusing on the Supreme Court's views of how the 270 day timeline prescribed by the IBC is to be managed.
Circular Logic: Power Producers Get Shown the IBC Door
Since the time the government opened up the sector for investment, the story of India’s private power producers has resembled that of Mr. Micawber – and they are about to be put into a modern day version of debtors’ prison, after the Allahabad High Court refused to spare them the ignominy of IBC proceedings.
Finally – The Government Moves Towards Enacting The Model Law On Cross-Border Insolvency
After being told to do so for decades, the Government has finally decided that it is time for India to adopt the UNCITRAL Model Law on Cross-Border Insolvency.