Time Relevance of Expense: commission deductible when incurred; restructuring transfers, lease obligations upheld; unenforceable sale agreement bars l...
Abuse of dominant position allegations against an exchange found not prima facie; regulator reliance on sectoral expertise upheld and no investigation...
Fairness and transparency in NRRA assignment under Regulation 37A require contextual application balancing competing interests; the tribunal found that fairness must account for the liquidator and secured creditor's position and did not view denial of consideration of a contemporaneous enhanced offer as patent unfairness where timelines and legitimate expectations of other stakeholders were engaged. Revised bids submitted after prescribed cut off and without required deposits need not be entertained to preserve finality; the appellant's belated, non compliant offer was therefore properly excluded. Acquiescence and waiver by conduct, and vested rights of a purchaser who acted on the sale absent fraud or collusion, bar post sale disturbance. Outcome: appeal dismissed.
Fairness and transparency in NRRA assignment under Regulation 37A require contextual application balancing competing interests; the tribunal found that fairness must account for the liquidator and secured creditor's position and did not view denial of consideration of a contemporaneous enhanced offer as patent unfairness where timelines and legitimate expectations of other stakeholders were engaged. Revised bids submitted after prescribed cut off and without required deposits need not be entertained to preserve finality; the appellant's belated, non compliant offer was therefore properly excluded. Acquiescence and waiver by conduct, and vested rights of a purchaser who acted on the sale absent fraud or collusion, bar post sale disturbance. Outcome: appeal dismissed.
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