Corporate insolvency application rules now require chapter selection and debtor particulars for Chapter IV filings. The rules amend Forms 1, 5 and 6 to require applicants to specify whether the corporate insolvency application is under Chapter II or Chapter IV of Part II of the Code and, where filed under Chapter IV, to supply notified particulars of the corporate debtor including assets and income, class of creditors or amount of debt, and category of corporate person.
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Corporate insolvency application rules now require chapter selection and debtor particulars for Chapter IV filings.
The rules amend Forms 1, 5 and 6 to require applicants to specify whether the corporate insolvency application is under Chapter II or Chapter IV of Part II of the Code and, where filed under Chapter IV, to supply notified particulars of the corporate debtor including assets and income, class of creditors or amount of debt, and category of corporate person.
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