https://www.taxtmi.com/caselaws?id=305247 A liquidation e-auction for sale of a corporate debtor as a going concern was found to be unfair where the corrigendum extended bidding timelines without preserving a realistic opportunity for site inspection and due diligence. The liquidator's failure to take proper account of relevant considerations, including the successful bidder's suitability to run the business as a going concern, was held unreasonable. As the process did not support value maximization and denied intending bidders a fair chance to assess the assets, the concluded auction and letter of intent were set aside and a fresh auction was directed. en-us Wed, 02 Mar 2022 00:00:00 +0530 Wed, 23 Nov 2022 21:56:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305247 A liquidation e-auction for sale of a corporate debtor as a going concern was found to be unfair where the corrigendum extended bidding timelines without preserving a realistic opportunity for site inspection and due diligence. The liquidator's failure to take proper account of relevant considerations, including the successful bidder's suitability to run the business as a going concern, was held unreasonable. As the process did not support value maximization and denied intending bidders a fair chance to assess the assets, the concluded auction and letter of intent were set aside and a fresh auction was directed. Case-Laws Insolvency and Bankruptcy Wed, 02 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305247