Early dissolution of a corporate debtor requires insufficient liquidation assets, no further investigation, and committee approval. Early dissolution of a corporate debtor may be sought after the Preliminary Report where realizable properties are insufficient to cover liquidation costs and no further investigation is required. The liquidator must place the matter before the committee, and if early dissolution is approved by a voting share of not less than sixty-six per cent, the liquidator must apply to the Adjudicating Authority with a detailed report and seek necessary directions.
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.
Early dissolution of a corporate debtor requires insufficient liquidation assets, no further investigation, and committee approval.
Early dissolution of a corporate debtor may be sought after the Preliminary Report where realizable properties are insufficient to cover liquidation costs and no further investigation is required. The liquidator must place the matter before the committee, and if early dissolution is approved by a voting share of not less than sixty-six per cent, the liquidator must apply to the Adjudicating Authority with a detailed report and seek necessary directions.
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