https://www.taxtmi.com/caselaws?id=305166 A financial creditor could not maintain a Section 95 insolvency application against a personal guarantor in its own name where the personal guarantee was issued in favour of a security trustee and the financing documents required enforcement through the trustee under the inter-creditor and security trustee arrangements. Because the record showed no unanimous consent or authorisation from all co-lenders, and the contractual structure did not allow one lender to bypass the trustee mechanism, the creditor lacked locus to invoke the guarantee independently. The application was therefore not maintainable and was dismissed. en-us Thu, 05 May 2022 00:00:00 +0530 Mon, 21 Nov 2022 04:45:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305166 A financial creditor could not maintain a Section 95 insolvency application against a personal guarantor in its own name where the personal guarantee was issued in favour of a security trustee and the financing documents required enforcement through the trustee under the inter-creditor and security trustee arrangements. Because the record showed no unanimous consent or authorisation from all co-lenders, and the contractual structure did not allow one lender to bypass the trustee mechanism, the creditor lacked locus to invoke the guarantee independently. The application was therefore not maintainable and was dismissed. Case-Laws Insolvency and Bankruptcy Thu, 05 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305166