Going concern management empowers the interim resolution professional to preserve value and run the corporate debtor during insolvency. The interim resolution professional must protect and preserve the corporate debtor's property and manage operations as a going concern, with authority to appoint professionals, enter into or modify contracts, issue instructions to personnel, and raise interim finance subject to restrictions on creating security over encumbered property without prior creditor consent.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Going concern management empowers the interim resolution professional to preserve value and run the corporate debtor during insolvency.
The interim resolution professional must protect and preserve the corporate debtor's property and manage operations as a going concern, with authority to appoint professionals, enter into or modify contracts, issue instructions to personnel, and raise interim finance subject to restrictions on creating security over encumbered property without prior creditor consent.
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