Summary of the Recommendations of the Bankruptcy Law Reforms Committee (BLRC)

Summary of the Recommendations of the Bankruptcy Law Reforms Committee (BLRC) https://www.taxtmi.com/news?id=15153 The draft Bill consolidates insolvency law into a unified, time-bound framework establishing an Insolvency Regulator, specialized adjudicating authorities, regulated insolvency professionals and information utilities; prescribes structured corporate revival and liquidation processes with interim professional management, creditor voting on resolution plans and prioritized asset distribution; and creates Fresh Start and insolvency resolution processes for individuals and unlimited partnerships, with transitional provisions for regulator functions and abatement of specified legacy proceedings. en-us Wed, 04 Nov 2015 17:38:02 +0530 Wed, 04 Nov 2015 17:38:02 +0530 TaxTMI RSS Generator Summary of the Recommendations of the Bankruptcy Law Reforms Committee (BLRC) https://www.taxtmi.com/news?id=15153 The draft Bill consolidates insolvency law into a unified, time-bound framework establishing an Insolvency Regulator, specialized adjudicating authorities, regulated insolvency professionals and information utilities; prescribes structured corporate revival and liquidation processes with interim professional management, creditor voting on resolution plans and prioritized asset distribution; and creates Fresh Start and insolvency resolution processes for individuals and unlimited partnerships, with transitional provisions for regulator functions and abatement of specified legacy proceedings. News - Wed, 04 Nov 2015 17:38:02 +0530 https://www.taxtmi.com/news?id=15153