https://www.taxtmi.com/caselaws?id=757451 Approval of a resolution plan under the Insolvency and Bankruptcy Code binds all creditors and extinguishes claims not included in the plan, including inchoate claims that had already arisen before approval. A counter claim filed before plan approval could therefore be rejected at the threshold, and characterising part of it as future losses did not preserve it, because the relevant date is when the claim arises, not when damages are finally quantified. An earlier order on Section 16 jurisdiction did not operate as res judicata, since it addressed the CIRP moratorium under Section 14 and not the later legal effect of plan approval. The arbitral award dismissing the counter claim was sustained. en-us Wed, 21 Aug 2024 00:00:00 +0530 Sat, 24 Aug 2024 13:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757451 Approval of a resolution plan under the Insolvency and Bankruptcy Code binds all creditors and extinguishes claims not included in the plan, including inchoate claims that had already arisen before approval. A counter claim filed before plan approval could therefore be rejected at the threshold, and characterising part of it as future losses did not preserve it, because the relevant date is when the claim arises, not when damages are finally quantified. An earlier order on Section 16 jurisdiction did not operate as res judicata, since it addressed the CIRP moratorium under Section 14 and not the later legal effect of plan approval. The arbitral award dismissing the counter claim was sustained. Case-Laws Insolvency and Bankruptcy Wed, 21 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757451