https://www.taxtmi.com/caselaws?id=407237 A lease or receivables arrangement may constitute financial debt where, in substance, it transfers the economic incidents of financing and reflects discounting for the time value of money. The analysis treated the rental documents as permitting assignment of rights and viewed the purchase of rent receivables as an assignment of a financial asset arising from a financing arrangement, rather than a mere operational lease. On that basis, the claim was characterised as having the commercial character of borrowing, and the assignee of the receivables was recognised as a financial creditor in the insolvency process. en-us Wed, 21 Apr 2021 00:00:00 +0530 Tue, 04 May 2021 08:53:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407237 A lease or receivables arrangement may constitute financial debt where, in substance, it transfers the economic incidents of financing and reflects discounting for the time value of money. The analysis treated the rental documents as permitting assignment of rights and viewed the purchase of rent receivables as an assignment of a financial asset arising from a financing arrangement, rather than a mere operational lease. On that basis, the claim was characterised as having the commercial character of borrowing, and the assignee of the receivables was recognised as a financial creditor in the insolvency process. Case-Laws Insolvency and Bankruptcy Wed, 21 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407237