Pre-packaged insolvency process expanded to allow creditors and corporate debtors with recent approved plans to apply under section 11. Amendment recognises a pre-packaged insolvency resolution process and extends standing under section 11 to financial and operational creditors of a corporate debtor undergoing that process, and to corporate debtors whose resolution plans have been approved under Chapter III-A within the period preceding an application.
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Provisions expressly mentioned in the judgment/order text.
Pre-packaged insolvency process expanded to allow creditors and corporate debtors with recent approved plans to apply under section 11.
Amendment recognises a pre-packaged insolvency resolution process and extends standing under section 11 to financial and operational creditors of a corporate debtor undergoing that process, and to corporate debtors whose resolution plans have been approved under Chapter III-A within the period preceding an application.
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