Business upkeep expenses despite no revenue, director's interest-free advances, and property gift additions-disallowances and notional interest delete...
Insolvency resolution plan's loan assignment between approving and dissenting creditors: post-approval redistribution blocked; original distribution e...
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Arbitral proceedings were invalidated due to procedural irregularities: the tribunal denied a timely application to amend defence and counterclaim despite the petitioners contention that knowledge of suppression of an ongoing insolvency process against a lead consortium member arose after the pleadings deadline, and thus failed to decide a crucial challenge to contract validity rendering the arbitration agreement and award tainted by alleged fraud; the tribunal further awarded substantial claims without any oral evidence, framed issues after directing earlier evidence filings, and recorded findings without referring to supporting documents. Consequence: the award was set aside and fresh arbitration was permitted with full opportunity to lead evidence and raise the validity defence.
Arbitral proceedings were invalidated due to procedural irregularities: the tribunal denied a timely application to amend defence and counterclaim despite the petitioners contention that knowledge of suppression of an ongoing insolvency process against a lead consortium member arose after the pleadings deadline, and thus failed to decide a crucial challenge to contract validity rendering the arbitration agreement and award tainted by alleged fraud; the tribunal further awarded substantial claims without any oral evidence, framed issues after directing earlier evidence filings, and recorded findings without referring to supporting documents. Consequence: the award was set aside and fresh arbitration was permitted with full opportunity to lead evidence and raise the validity defence.
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