Admissibility of electronic evidence bars undervaluation demands where printouts, retracted statements and no cross-examination leave the case unprove...
Limitation in oppression and mismanagement proceedings: prior knowledge of removal and dilution barred the challenge, with valuation directions upheld...
Insolvency professional agency governance rules amended to add nominee directors, tighten independent director eligibility, and regulate managing dire...
The amendment streamlines voluntary liquidation procedure by replacing multiple prescribed forms with forms notified by circular, renaming the stakeholder consultation heading as assistance by stakeholders, and inserting a new claim-management rule requiring stakeholders to submit claims by the public announcement deadline and update them when satisfied. It also requires a liquidator who rejects a claim to record written reasons and communicate admission or rejection within seven days. A new termination framework is added for voluntary liquidation proceedings, requiring the resolution and liquidator's report to state the rationale, treatment of costs, and absence of prejudice or fraud, and providing that termination ends the liquidator's appointment, powers, and further action under the regulations.
The amendment streamlines voluntary liquidation procedure by replacing multiple prescribed forms with forms notified by circular, renaming the stakeholder consultation heading as assistance by stakeholders, and inserting a new claim-management rule requiring stakeholders to submit claims by the public announcement deadline and update them when satisfied. It also requires a liquidator who rejects a claim to record written reasons and communicate admission or rejection within seven days. A new termination framework is added for voluntary liquidation proceedings, requiring the resolution and liquidator's report to state the rationale, treatment of costs, and absence of prejudice or fraud, and providing that termination ends the liquidator's appointment, powers, and further action under the regulations.
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