https://www.taxtmi.com/caselaws?id=417671 A Section 7 insolvency application is not time-barred merely because an earlier interest default occurred, where the claim is founded on a later default within three years of filing and the Code does not require a financial creditor to move at the first possible default. Default may also be proved from the overall record, and the application need not fail because some facility documents are unstamped or insufficiently stamped if other material, including mortgage records, admitted disbursements and correspondence, establishes financial debt and default. The insolvency admission order was upheld, and the appeal failed. en-us Thu, 27 Jan 2022 00:00:00 +0530 Sat, 29 Jan 2022 08:43:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417671 A Section 7 insolvency application is not time-barred merely because an earlier interest default occurred, where the claim is founded on a later default within three years of filing and the Code does not require a financial creditor to move at the first possible default. Default may also be proved from the overall record, and the application need not fail because some facility documents are unstamped or insufficiently stamped if other material, including mortgage records, admitted disbursements and correspondence, establishes financial debt and default. The insolvency admission order was upheld, and the appeal failed. Case-Laws Insolvency and Bankruptcy Thu, 27 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417671