https://www.taxtmi.com/caselaws?id=415594 A secured creditor realising its security interest during liquidation must first account for the higher-priority liquidation dues it would have borne if it had relinquished the security interest. The liquidation regulations, read with the clarification to Regulation 4, also recognise the liquidator's entitlement to fee where amounts are realised or distributed in liquidation. Accordingly, sale of the secured asset is not free from the liquidation framework: the creditor must comply with the applicable liquidation regulations and pay liquidation costs, including the liquidator's fee, before realising the asset. en-us Tue, 30 Nov 2021 00:00:00 +0530 Wed, 08 Dec 2021 18:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415594 A secured creditor realising its security interest during liquidation must first account for the higher-priority liquidation dues it would have borne if it had relinquished the security interest. The liquidation regulations, read with the clarification to Regulation 4, also recognise the liquidator's entitlement to fee where amounts are realised or distributed in liquidation. Accordingly, sale of the secured asset is not free from the liquidation framework: the creditor must comply with the applicable liquidation regulations and pay liquidation costs, including the liquidator's fee, before realising the asset. Case-Laws Insolvency and Bankruptcy Tue, 30 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415594