Asset transfer coordination in personal guarantor bankruptcy requires creditor approval and disclosure safeguards for related insolvency proceedings. Facilitation of transfer of assets in the bankruptcy process of a personal guarantor requires coordination between the bankruptcy trustee and the resolution professional of the related corporate debtor for the purposes of section 28A. The bankruptcy trustee must obtain approval from the meeting of the committee of creditors before transfer of assets, and where approval is granted, ensure that the proposed transfer is appropriately disclosed under regulation 7 and section 155.
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.
Asset transfer coordination in personal guarantor bankruptcy requires creditor approval and disclosure safeguards for related insolvency proceedings.
Facilitation of transfer of assets in the bankruptcy process of a personal guarantor requires coordination between the bankruptcy trustee and the resolution professional of the related corporate debtor for the purposes of section 28A. The bankruptcy trustee must obtain approval from the meeting of the committee of creditors before transfer of assets, and where approval is granted, ensure that the proposed transfer is appropriately disclosed under regulation 7 and section 155.
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