Assignment of not readily realisable assets in liquidation permits transparent transfer to eligible resolution applicants with prior approval. Assignment of not readily realisable assets in liquidation may be made through a transparent process, with prior approval of the committee, to a person eligible to submit a resolution plan for the corporate debtor. The expression covers liquidation estate assets that could not be sold through available options, including contingent or disputed assets and assets underlying proceedings for preferential, undervalued, extortionate credit, or fraudulent transactions under the Code, whether crystallised or not.
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.
Assignment of not readily realisable assets in liquidation permits transparent transfer to eligible resolution applicants with prior approval.
Assignment of not readily realisable assets in liquidation may be made through a transparent process, with prior approval of the committee, to a person eligible to submit a resolution plan for the corporate debtor. The expression covers liquidation estate assets that could not be sold through available options, including contingent or disputed assets and assets underlying proceedings for preferential, undervalued, extortionate credit, or fraudulent transactions under the Code, whether crystallised or not.
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