Unsecured Creditor's Appeal Barred: Filed 551 Days Late, Exceeding 14-Day Limit Under Insolvency and Bankruptcy Code.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Classification of applicant - unsecured creditors or not - the Applicant cannot take to plea that he is not aware of the fact that he is classified as unsecured creditor. Instead of going into further detail of the matter, the fact remains that even after having the knowledge with regard to the classification as unsecured creditor, the Applicant has not taken any steps and filed instant application almost after 551 days, when Code provide that an appeal has to be filed within 14 days after rejection of the claim by Liquidator. Therefore, the application is barred by limitation. - Tri....