Resolution plan invitations must disclose evaluation criteria, timelines, and performance security requirements in pre-packaged insolvency resolution. Invitation for resolution plans in a pre-packaged insolvency resolution process must be published within twenty-one days in the notified format, on the corporate debtor's website, the Board's designated website, and any other manner decided by the committee. The invitation must specify where it can be obtained, set a submission deadline of not less than fifteen days, and disclose the process steps, interaction timelines, evaluation basis, basis for comparing plans, tick size, and the method for improving a plan. No non-refundable deposit may be required; approved plans may require performance security, which may be forfeited on failure to implement the plan.
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.
Resolution plan invitations must disclose evaluation criteria, timelines, and performance security requirements in pre-packaged insolvency resolution.
Invitation for resolution plans in a pre-packaged insolvency resolution process must be published within twenty-one days in the notified format, on the corporate debtor's website, the Board's designated website, and any other manner decided by the committee. The invitation must specify where it can be obtained, set a submission deadline of not less than fifteen days, and disclose the process steps, interaction timelines, evaluation basis, basis for comparing plans, tick size, and the method for improving a plan. No non-refundable deposit may be required; approved plans may require performance security, which may be forfeited on failure to implement the plan.
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