Regional news: India

Another Mumbai opening targets India’s distressed assets

London-based fund Emso Asset Management has partnered with local advisory firm Eight Capital in Mumbai to invest in Indian distressed assets – the second such opening in as many weeks.

06 September 2018

Moratorium does not apply to personal guarantors, Indian Supreme Court rules

In a “remarkable” judgment, India’s Supreme Court has ruled that the two-year-old Insolvency and Bankruptcy Code’s moratorium provisions do not apply to the personal guarantors of corporate debtors.

29 August 2018

“Left in the lurch” homebuyers get creditor status in builder’s resolution process

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.

24 August 2018

India to add UNCITRAL Model Law to its bankruptcy code

India’s government is soliciting practitioners’ comments on its plan to adopt the UNCITRAL Model Law on cross-border insolvency.

21 June 2018

Diamond wholesaler embroiled in Indian fraud files Chapter 11 in New York

A fine jewellery wholesaler embroiled in an alleged US$1 billion bank fraud in India has filed for Chapter 11 protection in New York, alongside two of its US subsidiaries.

01 March 2018

A new lick of paint for India's insolvency regime

India has initiated a set of overhauls for its recently enacted Insolvency and Bankruptcy Code, while a Mumbai court has rejected a Pune-based paint company’s attempt to injunct insolvency resolution proceedings in favour of a winding-up application predating the new regime.

09 February 2018

Singapore: IWIRC hosts inaugural Pacific Rim conference

Now in its 20th year, the International Women's Insolvency & Restructuring Confederation (IWIRC) hosted its inaugural Pacific Rim conference in August, marking the first-ever collaboration between IWRIC's networks in Singapore, Hong Kong, Malaysia, China and Japan.

07 September 2017

Indian cross-border provisions notified - but that's just the beginning

The cross-border provisions in India’s new Insolvency and Bankruptcy Code formerly came into effect at the beginning of this month after publication in the Gazette of India – but lawyers say there is still a long way to go before they are useful.

10 April 2017

Regulatory roundup: new UK Insolvency Rules enter into force

A thorough overhaul of the UK’s procedural framework for insolvency becomes effective this week against a lukewarm reception, while the Australian government has updated proposed reforms to its insolvency regime taking account of a consultation last year.

05 April 2017

UK court breaks new ground in enforcing New York “judgment by confession”

An English court has for the first time upheld the enforceability of a US judgment that was not preceded by active proceedings between the parties, ruling that a US$172 million judgment debt against international metalworking group Essar Steel is enforceable in the UK.

20 March 2017

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