https://www.taxtmi.com/news?id=21813 Amendments clarify withdrawal regimes for insolvency applications, empower the Committee of Creditors to provide for liquidation cost contributions, recommend sale of the corporate debtor or its business as a going concern, and fix liquidator fees in consultation with the resolution professional. Liquidation rules prescribe sale-as-going-concern procedures that close liquidation without dissolution, establish a model timeline to expedite closure, require proportionate financial creditor contributions to liquidation costs where liquid resources are insufficient, create a non binding Stakeholders' Consultation Committee to advise on sales, mandate claim submission or update as of liquidation commencement, and require a compliance certificate with the final report. en-us Fri, 26 Jul 2019 18:48:20 +0530 Fri, 26 Jul 2019 18:48:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=21813 Amendments clarify withdrawal regimes for insolvency applications, empower the Committee of Creditors to provide for liquidation cost contributions, recommend sale of the corporate debtor or its business as a going concern, and fix liquidator fees in consultation with the resolution professional. Liquidation rules prescribe sale-as-going-concern procedures that close liquidation without dissolution, establish a model timeline to expedite closure, require proportionate financial creditor contributions to liquidation costs where liquid resources are insufficient, create a non binding Stakeholders' Consultation Committee to advise on sales, mandate claim submission or update as of liquidation commencement, and require a compliance certificate with the final report. News - Fri, 26 Jul 2019 18:48:20 +0530 https://www.taxtmi.com/news?id=21813