“Left in the lurch” homebuyers get creditor status in builder’s resolution process
Buildings under construction in Noida (Credit: istock.com/amlanmathur)
In a case featuring some veterans of the Indian bar, the country’s Supreme Court has allowed homebuilder Jaypee Infratech to stave off liquidation for six months so that over 21,000 buyers of unfinished homes may take advantage of the latest reforms to the country’s Insolvency and Bankruptcy Code.
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