Expanded cooperation obligations under insolvency law now cover wider classes of persons linked to the corporate debtor. Amends section 19 of the Insolvency and Bankruptcy Code to widen the persons required to assist and cooperate with the interim resolution professional. The substituted provision covers persons who are or have been personnel of the corporate debtor or its promoter, persons associated with its management, and persons engaged under a contract for service. References in sub-sections (2) and (3) are aligned with this expanded class, and an Explanation clarifies that references to the interim resolution professional include the resolution professional.
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.
Expanded cooperation obligations under insolvency law now cover wider classes of persons linked to the corporate debtor.
Amends section 19 of the Insolvency and Bankruptcy Code to widen the persons required to assist and cooperate with the interim resolution professional. The substituted provision covers persons who are or have been personnel of the corporate debtor or its promoter, persons associated with its management, and persons engaged under a contract for service. References in sub-sections (2) and (3) are aligned with this expanded class, and an Explanation clarifies that references to the interim resolution professional include the resolution professional.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.