Settlement Reached to Exit CIRP Before Creditor Committee Formation, Potentially Undermining Other Stakeholders' Interests.

Settlement Reached to Exit CIRP Before Creditor Committee Formation, Potentially Undermining Other Stakeholders' Interests. https://www.taxtmi.com/highlights?id=54008 Seeking exit from CIRP Process - Respondent No. 2 had arrived at a Settlement with the 'Corporate Debtor' - the factum of Respondents having inter se arrived at a Settlement prior to passing of the impugned order and constitution of the 'Committee of Creditors' is nothing but a ploy designed to defeat the legitimate interests of other stakeholders. This factual position is clearly borne out by the sequence of events unfolded by record. - Public interest would not warrant such course to be adopted. en-us Tue, 14 Jul 2020 11:40:07 +0530 Tue, 14 Jul 2020 11:40:07 +0530 TaxTMI RSS Generator Settlement Reached to Exit CIRP Before Creditor Committee Formation, Potentially Undermining Other Stakeholders' Interests. https://www.taxtmi.com/highlights?id=54008 Seeking exit from CIRP Process - Respondent No. 2 had arrived at a Settlement with the 'Corporate Debtor' - the factum of Respondents having inter se arrived at a Settlement prior to passing of the impugned order and constitution of the 'Committee of Creditors' is nothing but a ploy designed to defeat the legitimate interests of other stakeholders. This factual position is clearly borne out by the sequence of events unfolded by record. - Public interest would not warrant such course to be adopted. Highlights Insolvency and Bankruptcy Tue, 14 Jul 2020 11:40:07 +0530 https://www.taxtmi.com/highlights?id=54008