https://www.taxtmi.com/caselaws?id=444314 Approval of a resolution plan under the insolvency framework gives finality to claims dealt with in the resolution process, and claims not preserved or admitted under the plan are extinguished against the corporate debtor and the successful resolution applicant. The clean slate principle applies, so pre-resolution claims cannot be enforced once the plan takes effect. At the referral stage, arbitration must be refused where it would reopen matters already concluded by the approved plan and undermine the binding effect of the insolvency resolution process. The court therefore held that the petitioner's pre-resolution claims stood extinguished except to the extent admitted, and the disputes were non-arbitrable. en-us Tue, 10 Oct 2023 00:00:00 +0530 Fri, 13 Oct 2023 11:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444314 Approval of a resolution plan under the insolvency framework gives finality to claims dealt with in the resolution process, and claims not preserved or admitted under the plan are extinguished against the corporate debtor and the successful resolution applicant. The clean slate principle applies, so pre-resolution claims cannot be enforced once the plan takes effect. At the referral stage, arbitration must be refused where it would reopen matters already concluded by the approved plan and undermine the binding effect of the insolvency resolution process. The court therefore held that the petitioner's pre-resolution claims stood extinguished except to the extent admitted, and the disputes were non-arbitrable. Case-Laws Insolvency and Bankruptcy Tue, 10 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444314