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of <h1>Liquidators Must Complete Corporate Debtor Liquidation in One Year; Extension Requires Report Explaining Delay Per Amended Regulations.</h1> The liquidator must liquidate the corporate debtor within one year from the liquidation commencement date, regardless of any pending applications for avoidance of transactions. If unable to complete liquidation within this timeframe, the liquidator must apply to the Adjudicating Authority for an extension, providing a report explaining the delay and the additional time required. Regulations prior to the 2019 amendment apply to processes commenced before its enactment. Amendments have reduced the liquidation period from two years to one year and omitted certain provisions related to transaction avoidance and additional liquidation time.
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