Equality in Insolvency: Secured vs. Unsecured Creditors Must Be Treated Fairly but Not Identically.

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....Insolvency resolution process - Secured and unsecured creditors; the equality principle - the equality principle cannot be stretched to treating unequals equally, as that will destroy the very objective of the Code - to resolve stressed assets. Equitable treatment is to be accorded to each creditor depending upon the class to which it belongs: secured or unsecured, financial or operational.....