https://www.taxtmi.com/caselaws?id=752369 A resolution plan may provide nil payment to operational creditors where the available value is exhausted by insolvency resolution process costs and dues of secured financial creditors, because the statutory distribution scheme leaves no surplus for lower-ranking claims and the committee of creditors' commercial wisdom is not ordinarily open to interference absent legal contravention. A disputed claim that has not yet crystallised, and depends on the outcome of a pending appeal, may be admitted at a notional value pending final determination rather than as a quantified debt. The commentary states that such treatment is consistent with settled insolvency practice, and no interference was warranted with the plan or the claim classification. en-us Tue, 07 May 2024 00:00:00 +0530 Thu, 09 May 2024 09:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=752369 A resolution plan may provide nil payment to operational creditors where the available value is exhausted by insolvency resolution process costs and dues of secured financial creditors, because the statutory distribution scheme leaves no surplus for lower-ranking claims and the committee of creditors' commercial wisdom is not ordinarily open to interference absent legal contravention. A disputed claim that has not yet crystallised, and depends on the outcome of a pending appeal, may be admitted at a notional value pending final determination rather than as a quantified debt. The commentary states that such treatment is consistent with settled insolvency practice, and no interference was warranted with the plan or the claim classification. Case-Laws Insolvency and Bankruptcy Tue, 07 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=752369