Pre-packaged insolvency process added to insolvency law, inserting definitions and cost categories to align procedures. The amendment incorporates a pre-packaged insolvency resolution process into section 5 by adding parallel references and definitions, including base resolution plan, preliminary information memorandum, pre-packaged insolvency commencement date, and a defined pre-packaged insolvency resolution process period. It specifies pre-packaged insolvency resolution process costs-covering interim finance, resolution professional fees and expenses, costs of operating the debtor as a going concern under court order, Government facilitation costs, and other specified costs-and adjusts existing cross-references so the pre-packaged process is treated alongside the corporate insolvency resolution process.
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Provisions expressly mentioned in the judgment/order text.
Pre-packaged insolvency process added to insolvency law, inserting definitions and cost categories to align procedures.
The amendment incorporates a pre-packaged insolvency resolution process into section 5 by adding parallel references and definitions, including base resolution plan, preliminary information memorandum, pre-packaged insolvency commencement date, and a defined pre-packaged insolvency resolution process period. It specifies pre-packaged insolvency resolution process costs-covering interim finance, resolution professional fees and expenses, costs of operating the debtor as a going concern under court order, Government facilitation costs, and other specified costs-and adjusts existing cross-references so the pre-packaged process is treated alongside the corporate insolvency resolution process.
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