https://www.taxtmi.com/caselaws?id=306884 The liquidation framework favours value maximisation and beneficial liquidation by first exploring a sale of the corporate debtor as a going concern and related compromise or arrangement mechanisms. On the facts recorded, repeated public announcements, extensions of time and invitations to interested parties were treated as adequate compliance, so the allegation of deficient publicity or arbitrary conduct by the liquidator was rejected. The timelines under the liquidation regulations were treated as directory in the circumstances, and the period lost during lockdown was taken into account. A limited further period was granted to test whether a going-concern sale could be achieved at a better value before resorting to piecemeal sale. en-us Sat, 18 Dec 2021 00:00:00 +0530 Fri, 03 Mar 2023 22:18:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306884 The liquidation framework favours value maximisation and beneficial liquidation by first exploring a sale of the corporate debtor as a going concern and related compromise or arrangement mechanisms. On the facts recorded, repeated public announcements, extensions of time and invitations to interested parties were treated as adequate compliance, so the allegation of deficient publicity or arbitrary conduct by the liquidator was rejected. The timelines under the liquidation regulations were treated as directory in the circumstances, and the period lost during lockdown was taken into account. A limited further period was granted to test whether a going-concern sale could be achieved at a better value before resorting to piecemeal sale. Case-Laws Insolvency and Bankruptcy Sat, 18 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306884