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Enforcement of appellate directions under an approved resolution...
Enforcement of resolution-plan directions continues without a Supreme Court stay, preventing suspension of redistribution and escrowed-fund distribution.
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Enforcement of appellate directions under an approved resolution plan remains effective unless the Supreme Court grants a stay. The note explains that an earlier appellate direction had recognised an admitted claim and required the Monitoring Committee to redistribute plan allocations and determine distribution of escrowed funds. As no stay against distribution had been obtained in the pending Supreme Court challenge, the Tribunal declined to suspend implementation or permit exclusive implementation of the CoC resolution. The application to restrain distribution was therefore dismissed as misconceived.
Enforcement of appellate directions under an approved resolution plan remains effective unless the Supreme Court grants a stay. The note explains that an earlier appellate direction had recognised an admitted claim and required the Monitoring Committee to redistribute plan allocations and determine distribution of escrowed funds. As no stay against distribution had been obtained in the pending Supreme Court challenge, the Tribunal declined to suspend implementation or permit exclusive implementation of the CoC resolution. The application to restrain distribution was therefore dismissed as misconceived.
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