https://www.taxtmi.com/caselaws?id=430211 A going concern sale of a corporate debtor in liquidation may be approved together with consequential reliefs needed to make the transaction workable and preserve the business as an operating entity. On payment of the final consideration, the acquirers are to receive rights, title and interest in the corporate debtor free and clear of prior security interests, with claims outside the statement of claims treated as extinguished and distribution of proceeds governed by the liquidation waterfall. Incidental reliefs including cancellation of existing share capital and issuance of shares to the acquirers may also be granted where necessary to effectuate the transfer. en-us Fri, 11 Nov 2022 00:00:00 +0530 Tue, 15 Nov 2022 09:15:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430211 A going concern sale of a corporate debtor in liquidation may be approved together with consequential reliefs needed to make the transaction workable and preserve the business as an operating entity. On payment of the final consideration, the acquirers are to receive rights, title and interest in the corporate debtor free and clear of prior security interests, with claims outside the statement of claims treated as extinguished and distribution of proceeds governed by the liquidation waterfall. Incidental reliefs including cancellation of existing share capital and issuance of shares to the acquirers may also be granted where necessary to effectuate the transfer. Case-Laws Insolvency and Bankruptcy Fri, 11 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430211