Insolvency and BankruptcyNovember 16, 2019Case LawsSC
Corporate Insolvency resolution process (CIRP) - A successful resolution applicant cannot suddenly be faced with “undecided” claims after the resolution plan submitted by him has been accepted as this would amount to a hydra head popping up which would throw into uncertainty amounts payable by a prospective resolution applicant who successfully take over the business of the corporate debtor.
Corporate Insolvency resolution process (CIRP) - A successful resolution applicant cannot suddenly be faced with “undecided” claims after the resolution plan submitted by him has been accepted as this would amount to a hydra head popping up which would throw into uncertainty amounts payable by a prospective resolution applicant who successfully take over the business of the corporate debtor.
Note: It is a system-generated summary and is for quick reference only.
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